Press Releases

LEVIS, QUEBEC--(Marketwire - Nov. 11, 2009) - Davie Yards Inc. ("Davie" or the Corporation") (TSX: DAV) announced its results today for the third quarter and nine-month periods ended September 30, 2009.

Net loss for the third quarter of 2009 was $6.3 million ($0.02 loss per share on a diluted basis), compared to a net income of $3.3 million ($0.03 per share on a diluted basis) for the third quarter of 2008.

For the nine-month period ended September 30, 2009, net loss was reduced by 69% to $15.8 million ($0.06 loss per share on a diluted basis), compared to a net loss of $51.5 million ($0.44 loss per share on a diluted basis) for the same period in 2008.

The net loss for the third quarter of 2009 was mainly due to foreign currency exposures, which negatively impacted results of operations by approximately $4.0 million during the quarter compared to a positive foreign currency gain of approximately $11.0 million for the same period one year ago.

Year-to-date revenues for the nine-month period ended September 30, 2009 were higher at $80.6 million compared to $51.4 million for the nine-month period ended September 30, 2008, mainly reflecting an increase in the operating activities on the three vessels currently under construction.

"Despite our net loss, we have achieved good results in the third quarter of 2009. Our Company is currently unable to protect itself against currency fluctuations, which contributed to our loss for the period. We will pursue foreign currency coverage when we can put in place the appropriate banking facilities," said Steinar Kulen, President and Chief Executive Officer. "We are pleased with the operational execution of our projects, which are all within budgeted costs, excluding the impact of foreign currency fluctuations."

Total backlog remains solid at $531.4 million at the end of September 2009, compared to $567.4 million at the end of June 2009 and $606.6 million at the end of December 2008.

Future Outlook

Davie is well positioned for the new opportunities coming up. Following the finalization of the financial restructuring, management has been strengthened and an organizational restructuring has taken place focusing on attracting competencies needed for the execution of multiple, concurrent and large projects.

"We are well underway. Production output and progress are according to plan and supporting the schedule agreed with our client Cecon ASA. We also expect to start production of the two vessels for Ocean Hotels Plc. soon, as a loan agreement with Export Development Canada has been signed, and capacity of 1650 employees is built up for it", says Steinar Kulen, Davie's Chief Executive Officer, and he continues;

"The foundation is strong and the future looks promising. The Canadian Government requirement for new ships for the Navy, Transport Canada and the Coast Guard provides opportunities that our European competitors do not have, since the commercial shipbuilding markets continue to be affected by the ongoing financial crises".

Going Concern

The Corporation's cash may not be presently sufficient to fund expected cash requirements throughout the next 12 months. The ability of the Corporation to continue as a going concern is dependent upon raising additional financing, which is related to one of the Corporation's clients, Ocean Hotels Plc., finalizing financing from Export Development Canada to meet its contractual obligations towards the Corporation and pay the instalments due under its construction contracts. Ocean Hotels Plc. has informed through a press release that it has signed an agreement of a $100 million loan facility with Export Development Canada, where the condition precedence needs to be fulfilled. The outcome of these matters is dependent on a number of items outside the Corporation's control. As a result, there is uncertainty as to whether the Corporation will have the ability to continue as a going concern.

About Davie Yards Inc.

Davie Yards Inc. owns and operates the Davie yard in Quebec. With over 180 years of operating experience and approximately 1650 employees, the shipyard is the largest in Canada and among the largest and most sophisticated in North America. The Corporation has a focus on building large and complex offshore service vessels and rigs, and other sophisticated vessels for commercial and governmental use. Its shares are traded on the Toronto Stock Exchange (DAV). News and information are available at www.davie.ca.

Forward-Looking Statements

This news release contains forward-looking information within the meaning of applicable Canadian securities legislation. These statements include those relating to statements that are not historical facts, and reflect the current intentions, plans, expectations and beliefs of Davie's management ("Management"). Such forward-looking statements reflect Management's current beliefs and are based on information currently available to Management. Forward-looking statements involve known and unknown risks, uncertainties and other factors outside Management's control. A number of factors could cause actual results of Davie to differ materially from the results predicted in the forward-looking statements, including, but not limited to, risks associated with the Corporation's fiscal results, conditions to the completion of the refinancing plan, working capital requirements, major disruptions of production, a downturn in economic conditions, competition and sensitivity to the oil and gas industry and other factors.

Although the forward-looking statements contained herein are based upon what Management believes to be reasonable assumptions, Management cannot assure investors that actual results will be consistent with these forward-looking statements. Certain assumptions underlying the forward-looking statements contained in this news release include Management's assumptions regarding market outlook for the construction of complex offshore vessels as well as the assumptions that new vessels will be delivered on schedule and that the Corporation will attract and retain key personnel in key positions. These forward-looking statements are made as of the date of this release, and Management assumes no obligation to update or revise them to reflect new events or circumstances, except as required pursuant to applicable securities laws. Readers are cautioned not to place undue reliance on these forward-looking statements. For additional information with respect to certain of these and other assumptions and risks, please refer to the Corporation's Management's Discussion and Analysis for quarter ended March 31, 2009 and the year ended December 31, 2008 as well as the Financial Statements for the quarter ended March 31, 2009 and the year ended December 31, 2008, and the Corporation's Annual Information Form dated March 29, 2009.

FOR FURTHER INFORMATION PLEASE CONTACT:
        Davie Yards Inc.
        Alain Tanguay
        Chief Financial Officer
        418-837-5841 ext. 2447
        alain.tanguay@davie.ca

        Davie Yards Inc.
        Marie-Christine St-Pierre
        Vice President Communications
        418-837-5841 Ext. 2163
        mc.stpierre@davie.ca
        www.davie.ca

Source: Davie Yards Inc.

RANCHO SANTA FE, Calif.--(BUSINESS WIRE)-- White River Capital, Inc. (NYSE Amex: RVR) ("White River") announced today that its Board of Directors has declared a quarterly cash dividend of 25 cents per share on its common stock to be paid December 4, 2009 to shareholders of record on November 20, 2009. In addition, the Board of Directors reauthorized White River's previously announced share repurchase program. White River is now authorized to repurchase up to 500,000 shares of its outstanding common stock, from time to time and subject to market conditions, on the open market or in privately negotiated transactions. Under the repurchase program authorized in October 2008, White River was authorized to repurchase up to 150,000 shares of common stock. White River made no repurchases under the earlier authorization.

ABOUT WHITE RIVER, COASTAL CREDIT AND UAC

Founded in 2004, White River is the holding company for Coastal Credit LLC and Union Acceptance Company LLC.

Coastal Credit LLC is a specialized auto finance company, headquartered in Virginia Beach, Virginia, engaged in acquiring sub-prime auto receivables from both franchised and independent automobile dealers which have entered into contracts with purchasers of typically used, but some new, cars and light trucks. Coastal Credit then services the receivables it acquires. Coastal Credit commenced operations in Virginia in 1987 and conducts business in 20 states - California, Colorado, Delaware, Florida, Georgia, Hawaii, Louisiana, Maryland, Mississippi, Nevada, New Mexico, North Carolina, Ohio, Oklahoma, Pennsylvania, Tennessee, Texas, Utah, Virginia and Washington - through its 18 branch locations. The Coastal Credit receivables portfolio, net of unearned finance charges, was $110.2 million at September 30, 2009.

Union Acceptance Company LLC is a specialized auto finance company, based in Indianapolis, Indiana, which holds and oversees its portfolio of $0.1 million in non-prime auto receivables, as of September 30, 2009.

ADDITIONAL INFORMATION AND WHERE TO FIND IT

Additional information about White River is available at White River's web site located at: www.WhiteRiverCap.com.

This site includes financial highlights, stock information, public filings with the U.S. Securities and Exchange Commission (the "SEC"), and corporate governance documents.

The SEC public filings available for review include but are not limited to:

    --  its Annual Report on Form 10-K for the year ended December 31, 2008,
    --  its Proxy Statement on Schedule 14A dated April 29, 2009, and
    --  its Quarterly Report on Form 10-Q for the quarter ended June 30, 2009.

White River's public filings with the SEC can also be viewed on the SEC's website at: www.sec.gov.

FORWARD-LOOKING STATEMENTS

This press release contains certain forward-looking information about White River that is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Such information includes forward-looking statements above regarding the future financial performance of Coastal Credit and UAC, and also White River's prospects for future earnings, earnings volatility and the likelihood of recognizing future value from its deferred tax assets. All statements other than statements of historical fact are forward-looking statements. Such statements involve inherent risks and uncertainties, many of which are difficult to predict and are generally beyond the control of White River. White River cautions readers that a number of important factors could cause actual results to differ materially from those expressed in, implied or projected by, such forward-looking statements. Risks and uncertainties include, but are not limited to:

    --  losses and prepayments on our receivable portfolios;
    --  general economic, market, or business conditions;
    --  changes in interest rates, the cost of funds, and demand for our
        financial services;
    --  changes in our competitive position;
    --  our ability to manage growth and integrate acquired businesses;
    --  the opportunities that may be presented to and pursued by us;
    --  competitive actions by other companies;
    --  changes in laws or regulations;
    --  changes in the policies of federal or state regulators and agencies.

If any of these risks or uncertainties materializes or if any of the assumptions underlying such forward-looking statements proves to be incorrect, White River's results could differ materially from those expressed in, implied or projected by such forward-looking statements. White River assumes no obligation to update such forward-looking statements.

    Source: White River Capital, Inc.

NORTH HOLLYWOOD, Calif., Nov. 11 /PRNewswire/ -- After an extensive search, the Academy of Television Arts & Sciences and the Television Academy Foundation have hired two public relations firms as their respective agencies of record for 2010, it was announced today by John Shaffner, Chairman and CEO of the Television Academy, Jerry Petry, Chairman of the Television Academy Foundation and Alan Perris, Television Academy COO.

(Logo: http://www.newscom.com/cgi-bin/prnh/20091111/LA09304LOGO)

The Academy has named BNC Public Relations and Marketing to oversee media relations for all of its many programs and activities, including the 2010 Primetime Emmy® Awards, the Creative Arts Emmy Awards, Los Angeles Area Emmy Awards, Television Hall of Fame Ceremonies, Television Academy Honors, membership events, emmy Magazine, as well as day-to-day corporate communications.

The Television Academy Foundation, the 501(c)(3) arm of the Academy, has selected Beck Media & Marketing to handle strategic communications for the Foundation and its programs. These include the Archive of American Television and its recently launched web-destination, EmmyTVLegends.org, the College Television Awards, the well-regarded Foundation summer internship program, Fred Rogers Memorial Scholarship, the Virtual Academy and annual Golf Tournament and Charity Auction events.

"This two-agency strategy just made sense," commented Perris in making the announcement. "The past few years have seen a tremendous simultaneous expansion of programs and activities for the Television Academy and its Foundation, as well as the need to properly address and service new media platforms. To create additional awareness of the Academy's programs to honor excellence as well as its membership activities and benefits and to increase the profile of the Foundation's educational and preservation efforts, we knew that both entities would benefit from a division of labor, talent and expertise."

"There was tremendous interest in representing our account," said John Shaffner, Chairman and CEO of the Television Academy. "We believe BNC's breadth of experience in the areas of talent, events management, television and new media, along with their knowledge of consumer lifestyle branding, is the perfect public relations fit and will serve us well as we move into a new decade."

"The range of Foundation programs has grown markedly in recent years to include ambitious web initiatives, vibrant educational programs, and extensive fund-raising activities," said Jerry Petry, Chairman of the Board of the Academy of Television Arts & Sciences Foundation. "Beck Media's extensive experience in television, coupled with its demonstrated success in the emerging digital, social and alternative media space make the agency an ideal choice for the Foundation's future PR needs."

Earlier in 2009, Beck Media & Marketing handled traditional and digital publicity for the launch of EmmyTVLegends.org and the Foundation's Primetime Emmy®-season online auction fundraiser.

The Lippin Group will continue to handle public relations for the Television Academy and its Foundation during this transition period, through the end of 2009.

About the Academy of Television Arts & Sciences

The Academy of Television Arts & Sciences, founded in 1946 at the birth of the medium, is a non-profit organization devoted to the advancement of telecommunication arts, sciences and creative leadership. Known for recognizing outstanding programming through its Primetime Emmy® Awards, the Television Academy also publishes emmy Magazine. Its charitable Foundation, meanwhile, operates the Archive of American Television, College Television Awards, acclaimed student internships and other educational outreach programs. For more information on the Academy of Television Arts & Sciences, its many industry-related programs and services, including year-round events, please visit www.emmys.tv.

About BNC (Bragman Nyman Cafarelli) Marketing and PR

Pioneers in the strategic development and use of non-traditional marketing and PR solutions, BNC is a leading national firm operating throughout the lifestyle/pop culture and entertainment arenas. With offices in Los Angeles and New York and a staff of more than 120, the company executes brand-based marketing programs, integrating such core competencies as media relations, event marketing, influencer outreach, product integration and sponsorships and grassroots promotions. BNC represents more than 100 celebrity clients, numerous television campaigns, entertainment companies and produces and/or publicizes nearly 200 events a year. In addition, BNC represents companies across such sectors as fashion, automotive, beauty, hospitality, wines, spirits, beer, gaming, wireless, retail, finance, publishing and sports. For more information on BNC and its clients, please visit www.bncpr.com.

Academy of Television Arts & Sciences Foundation

Established in 1959 as the charitable arm of the Television Academy, the Academy of Television Arts & Sciences Foundation is dedicated to utilizing the resources of the Television Academy and the artistry of television to preserve and celebrate the history of the medium, while educating and guiding those who will shape its future. The Foundation is responsible for the Archive of American Television, as well as education programs such as the College Television Awards and its renowned student internship program. For more information on the Foundation, the Television Academy and its many industry-related programs, services and year-round Academy events, please visit www.EmmysFoundation.org.

Beck Media & Marketing

Beck Media & Marketing provides strategic communications support engineered to help its clients achieve their business goals. Working at the intersection of entertainment and technology, the Los Angeles-based agency represents television studios, producers and programs; consumer web destinations; digital media technology innovators; mobile entertainment companies, and other firms. For more information, visit www.beckmedia.com.

SOURCE Academy of Television Arts & Sciences

RENTON, Wash.--(BUSINESS WIRE)-- Etelos, Inc. (OTCBB: ETLO), a developer and operator of private-labeled marketplaces for Web-based business applications, announced support for OpenID for user authentication and Single Sign On (SSO) within the Etelos Platform Suite. SSO using OpenID will be included as a standard feature within the Etelos Platform Suite and will be made available to provide a single point of user authentication for business apps distributed via Etelos Marketplaces. As part of this announcement, Etelos is also joining the OpenID Foundation.

With the enablement of OpenID as part of the Etelos Platform Suite, Etelos can offer its private-labeled Marketplace Partners and their subscribers an open, widely used SSO standard for subscribers to their business applications. This will greatly improve the customer experience for small business - giving them user management features that previously have been available only to enterprise customers.

OpenID is a decentralized standard for managing usernames and passwords for single-logon access to various web-based applications, social media sites and blogs. OpenID is managed by the OpenID Foundation and is supported by organizations including AOL, Booz Allen Hamilton, FaceBook, France Telecom, Google, IBM, Microsoft, MySpace, PayPal, Telecom Italia, VeriSign and Yahoo.

"As OpenID and single-sign-on become more wide-spread, we want to give users of business Web applications the ability to control their identities," said Danny Kolke, Etelos Founder & CEO. "This is a perfect fit for our Marketplace Partners and the subscribers to the applications in our extensive Syndication Partner network, who are looking for an improved user experience without having to rely on proprietary technology."

By implementing OpenID, Etelos will provide a User Management Interface (UMI) console for managing all of the application users for a small business subscriber. With the Etelos UMI, application users will be able to access their application via the single sign on and link to their Web apps via a single-user portal. Using the OpenID standard, Etelos Syndication Partners can leverage this user management tool with their own app as well as across all of a customer's apps subscriptions in a Marketplace Partner marketplace.

"Creating a turnkey marketplace of SaaS applications to sell to your customers is a compelling value proposition, essentially creating a Platform as a Service offering," said Brian Kissel, CEO of JanRain and Chairman of the OpenID Foundation. "Leveraging OpenID to extend the platform to include unified SSO across a suite of offerings makes good business and operational sense as well. This is yet another example of the growing momentum for OpenID across a wide range of market applications."

"Continuing the momentum of OpenID this year, it's excellent to see Etelos providing small and medium businesses and enterprises a widely deployed identity solution," said Chris Messina, board member of the OpenID Foundation.

OpenID is now available to Etelos private-labeled marketplace providers and syndication partners. They can also use their Marketplace to become an OpenID Provider or leverage other OpenID providers. For more information or to browse those marketplaces, please visit Etelos.com.

About Etelos, Inc.

Etelos is the developer of a Web app distribution platform for delivering Web apps for businesses. Unlike other cloud computing and Platform-as-a-Service (PaaS) solutions, Etelos enables software manufacturers to migrate existing applications or to create new applications, then to package, distribute, host, bill, market and support their Software-as-a-Service (SaaS) enabled applications through a number of third-party branded application marketplaces, all based on the Etelos Platform Suite. Etelos(TM), the Etelos Platform Suite(TM), EASE(TM), Etelos App Server(TM), Etelos VE(TM), Etelos Cloud(TM) and Etelos Marketplace(TM) are trademarks of Etelos, Inc.; other trademarks are the property of their respective owners. For more information about Etelos, please visit Etelos.com.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Etelos' business which are not historical facts may be "forward-looking statements" that involve risks and uncertainties. Forward-looking statements include, among other things, statements concerning the company's partnership with others, the future financial performance of our company, the acceptance of our products and services, the success and timeliness of our product and platform roll-out and other statements qualified by words such as "anticipate," "believe," "intend," "may" and other words of similar import. These statements are neither promises nor guarantees, but involve risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements, including: implementation of the OpenID standard, our partnerships with this Partner or others, the future financial performance of our company, the acceptance of our products and services, the success and timeliness of our products and platform roll-out. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's reports that Etelos files periodically with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and Etelos undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.

    Source: Etelos, Inc.

Company Leads North American Market for Number of Service Provider Customers Deploying TR-069-based Solutions

VANCOUVER, Wash.--(BUSINESS WIRE)-- ClearAccess, a leading provider of broadband device management and advanced data services, today announced at TelcoTV09 (booth #614) a major milestone in the growth of its customer base. The recent addition of Pine Island Telephone raises the total number of service providers using the company's flagship ClearVision Management System to 50 customers worldwide.

Pine Island Telephone selected ClearVision as a means to expand their services portfolio, manage the connected home, and build subscriber loyalty. "The business case for rolling out ClearVision is compelling, we believe it will help transform our business and enable us to be more competitive than ever," said Richard Keane, GM.

Pine Island Telephone joins an extensive list of customers deploying ClearVision, including FairPoint Communications, Burlington Telecom, Canby Telecom, ETEX, Farmers Telephone, Reliance Connects, and SRT Communications. "With 50 service providers now deploying ClearVision and another 35 in active trial we are establishing ourselves as the fastest growing and most credible company offering TR-069-based solutions," said Bill Allen, ClearAccess' newly appointed Vice President of World Wide Sales.

ClearAccess' ClearVision Management System enables service providers to remotely manage residential and small business gateways using the Broadband Forum's TR-069 protocol, enabling active management of the home and office network through a web browser. Service providers use ClearVision to deliver advanced data services such as managed WiFi, content filtering, and Internet time blocking. Benefits include new service revenues, increased subscriber loyalty, reduced truck rolls, and shorter support calls. The TR-069 protocol is extensible to manage any IP-aware device in the home or office network.

According to Ken Hood, CEO of ClearAccess, this milestone validates ClearVision as the TR-069 management system of choice in the North American service provider market. "The competitive advantage these customers have gained with ClearVision is a key reason why ClearAccess hit the 50 customer milestone," he added.

About ClearAccess

ClearAccess offers service providers new possibilities in broadband deployments including the ability to manage TR-069 compliant gateways and other home or office networking devices, zero-touch gateway deployments with Connect and Surf(R), and delivery of Advanced Data Services over a variety of network types including DSL, FTTH, cable, and wireless. For more information, visit the ClearAccess website at www.clearaccess.com.

    Source: ClearAccess