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The Conference Board Index of Leading Economic Indicators Edges Up

The Conference Board reports today that the Composite Index of Leading Economic Indicators edged up by 0.1% in June, following a 0.6% decline in May, and a 0.1% decrease in April.

Says Ken Goldstein, Labor Economist at The Conference Board: "The U.S. economy is cooling at mid-year. The Leading Economic Indicators started to soften a year ago and, but for the interruption caused by the hurricanes and flooding and their aftermath, it has continued through June. This basic trend has been intensified by higher energy prices and a cooling off in the housing market. The LEI suggest that the economy could cool even more in the third and fourth quarters of the year."

The Conference Board also reports that the Coincident Index increased 0.2% in June, following a 0.1% increase in May, and a 0.2% increase in each of the four prior months. The Lagging Index rose by 0.6% in June, following a 0.2% increase in both April and May.

The Conference Board(R) U.S. Business Cycle Indicators(SM)

U.S. Leading Economic Indicators and Related Composite Indexes for JUNE 2006

The Conference Board announced today that the U.S. leading index increased 0.1

percent, the coincident index increased 0.2 percent and the lagging index                       increased 0.6 percent in June.    -- The leading index increased slightly in June, following two consecutive      declines.  The largest negative contributors to the leading index in      June were vendor performance and building permits.  From December to      June, the leading index fell by 0.3 percent (a -0.6 percent annual      rate).  Declining housing permits continued to be the largest negative      contributor over this period.    -- The coincident index, a measure of current economic activity, continued      to increase steadily as it has since September 2005.  But its growth      moderated slightly in the second quarter of 2006.  From December to      June, the coincident index grew 1.1 percent (a 2.2 percent annual      rate), and employment and industrial production were the major      contributors to this growth.    -- The leading index has fallen below its most recent high reached in      January and the strengths among the leading indicators have gradually      become less widespread in recent months.  The current behavior of the      leading index suggests that economic growth should continue, but at a      slow to moderate rate in the near term.

LEADING INDICATORS. Six of the ten indicators that make up the leading index increased in June. The positive contributors -- beginning with the largest positive contributor -- were average weekly initial claims for unemployment insurance (inverted), index of consumer expectations, real money supply*, average weekly manufacturing hours, interest rate spread, and manufacturers' new orders for nondefense capital goods*. The negative contributors -- beginning with the largest negative contributor -- were vendor performance, building permits, and stock prices. The manufacturers' new orders for consumer goods and materials* held steady in June.

The leading index now stands at 138.1 (1996=100). Based on revised data, this index decreased 0.6 percent in May and decreased 0.1 percent in April. During the six-month span through June, the leading index decreased 0.3 percent, with five out of ten components advancing (diffusion index, six-month span equals fifty percent).

COINCIDENT INDICATORS. All four indicators that make up the coincident index increased in June. The positive contributors to the index -- beginning with the largest positive contributor -- were industrial production, personal income less transfer payments*, employees on nonagricultural payrolls, and manufacturing and trade sales*.

The coincident index now stands at 122.9 (1996=100). Based on revised data, this index increased 0.1 percent in May and increased 0.2 percent in April. During the six-month period through June, the coincident index increased 1.1 percent.

LAGGING INDICATORS. The lagging index stands at 123.7 (1996=100) in June, with all seven components advancing. The positive contributors to the index - - beginning with the largest positive contributor -- were average duration of unemployment (inverted), commercial and industrial loans outstanding*, change in CPI for services, change in labor cost per unit of output*, average prime rate charged by banks, ratio of consumer installment credit to personal income*, and ratio of manufacturing and trade inventories to sales*. Based on revised data, the lagging index increased 0.2 percent in both May and April.

DATA AVAILABILITY AND NOTES.

The data series used by The Conference Board to compute the three composite indexes and reported in the tables in this release are those available "as of" 12 Noon on July 19, 2006. Some series are estimated as noted below.

* Series in the leading index that are based on The Conference Board estimates are manufacturers' new orders for consumer goods and materials, manufacturers' new orders for nondefense capital goods, and the personal consumption expenditure used to deflate the money supply. Series in the coincident index that are based on The Conference Board estimates are personal income less transfer payments and manufacturing and trade sales. Series in the lagging index that are based on The Conference Board estimates are inventories to sales ratio, consumer installment credit to income ratio, change in labor cost per unit of output, the consumer price index, and the personal consumption expenditure used to deflate commercial and industrial loans outstanding.

The procedure used to estimate the current month's personal consumption expenditure deflator (used in the calculation of real money supply and commercial and industrial loans outstanding) now incorporates the current month's consumer price index when it is available before the release of the U.S. Leading Economic Indicators.

Effective with the September 18, 2003 release, the method for calculating manufacturers' new orders for consumer goods and materials (A0M008) and manufacturers' new orders for nondefense capital goods (A0M027) has been revised. Both series are now constructed by deflating nominal aggregate new orders data instead of aggregating deflated industry level new orders data. Both the new and the old methods utilize appropriate producer price indices. This simplification remedies several issues raised by the recent conversion of industry data to the North American Classification System (NAICS), as well as several other issues, e.g. the treatment of semiconductor orders. While this simplification caused a slight shift in the levels of both new orders series, the growth rates were essentially the same. As a result, this simplification had no significant effect on the leading index.

Effective with the January 22, 2004 release a programming error in the calculation of the leading index -- in place since January 2002 -- has been corrected. The cyclical behavior of the leading index was not affected by either the calculation error or its correction, but the level of the index in the 1959-1996 period is slightly higher.

  Website: http://www.conference-board.org/economics/bci                                      Summary Table of                                     Composite Indexes                                 2006                              6-month                                Apr         May         Jun      Dec to Jun    Leading index               138.7       137.9       138.1 p     Percent Change              -.1         -.6          .1 p      -0.3     Diffusion                  40.0        25.0        65.0        50.0    Coincident Index            122.5 r     122.6 p     122.9 p     Percent Change               .2          .1 p        .2 p       1.1     Diffusion                  75.0        75.0       100.0       100.0    Lagging Index               122.7 p     123.0 p     123.7 p     Percent Change               .2 p        .2 p        .6 p       1.6     Diffusion                  71.4        50.0        92.9        42.9    n.a.  Not available     p  Preliminary     r  Revised   Indexes equal 100 in 1996   Source:  The Conference Board

Source: The Conference Board

Leading Fuel Cell Developer IdaTech, LLC Acquired by UK-Based Investec Group Investments Limited

Acquisition Strengthens IdaTech's Position as Leader in PEM Fuel Cell Solutions IdaTech, LLC, a global fuel cell solutions developer and manufacturer, announces the news that IdaTech UK Limited, whose ultimate parent is Investec PLC (Investec), has completed the acquisition of 100% of the IDACORP, Inc. (IDACORP) ownership in IdaTech, LLC. This acquisition represents the validation of IdaTech's leading position in PEM fuel cell solution development and fuel reformation technologies and provides a significant opportunity to achieve the next level of commercial growth.

Investec is a specialty banking group that provides a diverse range of financial products and services to a niche client base internationally. The group was established in 1974 and currently has approximately 4,400 employees. Investec has a strong financial position with approximately $1,719.7 million in net operating income for the year ending March 31st, 2006, and a track record of growth through insightful investments and quality management. The acquisition of IdaTech is in line with Investec's strategy of investing in world-class energy technology assets.

IdaTech's previous parent company, IDACORP, Inc. recently embarked on a "back to basics" strategy of focusing on the higher priority capital requirements of their core utility business.

"We are very grateful for IDACORP's past support and look forward to bringing our fuel cell solutions to the global market thanks to Investec and their existing network of relationships," said Claude Duss, IdaTech president and chief executive officer. "This transaction validates IdaTech's potential and position as a leader in the fuel cell industry for stationary PEM systems. I believe Investec and IdaTech are well aligned in the objective to grow IdaTech into a highly successful company and a market leader."

"IdaTech has a number of truly outstanding attributes that led us to believe it was the right company with which to align. In our opinion, the company has been able to accomplish the development and launch of critical backup power products in a very short time frame at a fraction of the cost to others," said Michael Lacey-Solymar of Investec. "Additionally, IdaTech's ability to reform fuels into hydrogen onsite and as needed is solving a critical challenge to the adoption of fuel cells systems -- how to get the hydrogen. We see this as a key differentiator."

About IdaTech

IdaTech's fuel cell solutions are based on a flexible modular design, supporting interchangeable components, which enables IdaTech to accelerate product development incorporating proven components and subsystems into customized configurations. Additionally, IdaTech's fuel cell solutions incorporate its patented fuel processing technology and operate on a variety of fuels.

IdaTech's portfolio of fuel cell solutions is based on its proprietary multi-fuel fuel processing technology, its own fuel cell stack and power module, and fuel cell system integration capabilities. With the support of strategic partners, the company's solutions are being deployed on a global scale for stationary and portable applications.

About Investec

Investec is an international specialist banking group that provides a diverse range of financial products and services to a niche client base in three principal markets: the United Kingdom, South Africa and Australia, as well as certain other countries. The group was established in 1974 and currently has approximately 4,400 employees.

Investec focuses on delivering distinctive profitable solutions for its clients in five core areas of activity, namely: Private Client Activities, Treasury and Specialised Finance, Investment Banking, Asset Management and Property Activities.

In July 2002, the Investec group implemented a dual listed company structure with listings on the London and Johannesburg Stock Exchanges. Management and staff own approximately 16% of the equity share capital of the group. The combined group's current market capitalisation is approximately $5.5 billion.

Leading Fuel Cell Developer IdaTech, LLC Acquired by UK-Based Investec Group Investments Limited
Acquisition Strengthens IdaTech's Position as Leader in PEM Fuel Cell Solutions

IdaTech, LLC, a global fuel cell solutions developer and manufacturer, announces the news that IdaTech UK Limited, whose ultimate parent is Investec PLC (Investec), has completed the acquisition of 100% of the IDACORP, Inc. (IDACORP) ownership in IdaTech, LLC. This acquisition represents the validation of IdaTech's leading position in PEM fuel cell solution development and fuel reformation technologies and provides a significant opportunity to achieve the next level of commercial growth.

IdaTech's previous parent company, IDACORP, Inc. recently embarked on a "back to basics" strategy of focusing on the higher priority capital requirements of their core utility business.

About IdaTech

About Investec

Hybrid Executive Group Launches Advanced Animal Nutrition Company

Recognizing a need to provide advanced science nutritional products for dogs, horses, and other livestock, a team of diverse executives led by food science industry veteran Lisa Alley-Zarkades today announced the establishment of Dog-Equine LLC. The marketing/manufacturing company will focus on meeting demand for naturally safe and beneficial supplements, treats and food components that focus on pest control, preventative methods, overall health, and improved quality of animal life.

Operating as an umbrella parent company, DogEquine, will market its products under two trademarked brandnames: StableKare™ (for equine) and KennelKare™ (for canine). Several branded products will also be suitable for other livestock and companion animals.

"This endeavor has been a collaborative vision amongst us for quite a while now," commented Alley-Zarkades, DogEquine President. "With so much talent on our board and corporate team, we have the necessary technology, resources, suppliers, and resolve to make this flourish," she said.

Highlighted Links

www.dogequine.com

Alley-Zarkades recruited executives from complementary industries to form a management team who share a passion for making a difference in the animal world. "When Lisa put the group together, I was beyond enthusiastic to climb aboard," stated Lynn Shigemura, DogEquine CFO. "The marketplace has clearly shown it has a perpetual need for natural products -- that really work -- and are also a terrific value for consumers," she said.

The remainder of the management team is comprised of marketing professionals and operations/product development experts. Shelly Maureen Martin, a world-champion equestrian and DogEquine's VP of Sales, brings a unique perspective to the management group. "Having been around horses and other companion animals my entire life, I am cognizant of the demand from animal lovers for natural products that are effective, non-toxic, and economical to use. With so many human consumption food companies rushing to market with environmentally friendly products, we realize that what's good for people is also good for animals," Martin concluded.

About DogEquine:

Founded in 2005, DogEquine is dedicated to consistently manufacturing and marketing safe and effective companion animal supplements and food components that are scientifically formulated, using only natural ingredients. The company's board has mandated that a considerable percentage of net profits be returned to the community by way of monetary support for animal recovery centers in the USA. For more information about DogEquine and its StableKare and KennelKare brands, visit www.dogequine.com

- RedChip Visibility Issues Research Initiation on TelePlus Enterprises, Inc.: (OTCBB: TLPE)

RedChip Visibility Issues Research Initiation on TelePlus Enterprises, Inc.: (TLPE: OTC BB)

Price Target $0.90

NOTE TO EDITORS: The Following Is an Investment Opinion Being Issued by RedChip Visibility.

ORLANDO, FL -- July 20, 2006 -- RedChip Visibility, a division of RedChip Companies, announced today that they have initiatied research coverage on TelePlus Enterprises, Inc. (OTCBB: TLPE). RedChip initiated coverage of TelePlus Enterprises, Inc. with a "Speculative Buy" rating and a current price target of $0.90.

Leslie Richardson and Patrick Murphy, RedChip Research Analysts, and Level III CFA Candidates wrote in the report:

"The fundamental near-term operational objective for TLPE is straightforward in both the Liberty Wireless and TelePlus Connect segments -- acquire and retain customers. Although it will be critical to stay tuned to each quarter's performance, the early results are positive for the new TLPE model, and the opportunity before the company has never been more attractive. Given the Liberty Wireless historicals, the revenue figures provided by TLPE for the TelePlus Connect acquisitions, and the market opportunity, we believe the company's 2006 projection of $39 million in revenue is achievable, as is EBITDA of over $3 million -- annualizing the Q1 2006 results in $2.7 million in EBITDA, and Liberty Wireless alone reached $4.3 million in EBITDA two years ago."

To receive a complimentary copy of the RedChip Visibility initial research for TLPE, please visit: http://www.redchip.com/visibility/about.asp?page=requestTLPE.

About RedChip Visibility™

Research, a division of RedChip Companies Inc., writes fundamental research on small-cap companies. RedChip's success has been documented in Forbes, Barron's and the Wall Street Journal. RedChip Visibility™ provides small-cap companies access to both professional and individual small-cap investors by holding conferences throughout the United States, producing online corporate visibility programs, and writing company sponsored research.

RedChip Visibility Research Disclosure

Any opinions expressed herein are subject to change. RedChip Companies Inc. is an affi liate of the Aurelius Consulting Group, Inc. Teleplus Enterprises, Inc. is a client of the Aurelius Consulting Group, Inc. and of RedChip Visibility, a division of RedChip Companies. TLPE paid RedChip Visibility $32,500 for the RedChip Visibility Research Program, which includes this report. RedChip Visibility, a division of RedChip Companies, Inc., and the Aurelius Consulting Group Inc., in a joint marketing agreement, have been contracted by Teleplus Enterprises, Inc. to increase investor awareness of TLPE to the small-cap equity community. These services may include investor conferences and digital and print distribution of TLPE investor related materials. In the purview of Section 17(b) of the Securities Act of 1933 and in the interest of full disclosure, we call the reader's attention to the fact that the Aurelius Consulting Group is an investor relations firm hired by the Company and receives a monthly fee of $8,500 and an amount equal to $6,500 of Rule 144 stock per month.

Community Bancorp Expands Presence in Arizona With the Signing of a Definitive Agreement to Acquire Cactus Commerce Bank

Community Bancorp (NASDAQ: CBON) today announced the signing of a definitive agreement to purchase all of the outstanding common stock of Glendale, Arizona, based Cactus Commerce Bank for approximately $13.3 million in cash, or $256.59 per share. Cactus Commerce Bank, founded in November 2003, is a commercial bank with assets of approximately $43 million serving the greater Phoenix metropolitan area.

The acquisition has been approved by the Boards of Directors of each company and all of the shareholders of Cactus Commerce Bank have tendered their shares into an escrow pending close of the transaction. Upon consummation of the transaction, Cactus Commerce Bank will become a wholly owned subsidiary of Community Bancorp, which will then be a two bank holding company with banks operating in Nevada and Arizona. On a consolidated basis, and assuming the closing of Community Bancorp's pending acquisition of Valley Bancorp in Las Vegas, Nevada, and Cactus Commerce Bank's opening of its pending Fountain Hills branch, Community Bancorp will have approximately $1.4 billion in assets and 16 branches serving the growing communities of Clark and Nye Counties in Nevada, and Maricopa County in Arizona.

"This transaction enables us to expand our banking services into the growing Phoenix market. We currently have a loan production office in Phoenix and have originated approximately $36 million of loans in the market as of June 30, 2006. Cactus Commerce Bank has been successful in its short history in attracting and servicing high quality customers and will provide a strong foundation for us to continue to build our franchise in Arizona," said Ed Jamison, Chairman, President and CEO of Community Bancorp.

This is the first acquisition for Community Bancorp outside of Nevada, and is consistent with the Company's previously announced strategy to expand into other high growth markets in Arizona and California. The acquisition is intended to provide the foundation for Community Bancorp to grow a new franchise in Arizona. Maricopa County continues to exhibit strong growth in both population and economic development. According to the U.S. Census Bureau, Arizona continues to be one of the fastest growing states in the U.S., with Maricopa County experiencing a significant portion of that growth. During the 5-year period ended 2005 and the projected 5-year period ending 2010, Arizona's population growth exceeded and is projected to exceed the growth of all states but Nevada. In addition, during the 5-year period ended 2005 and the projected 5-year period ending 2010, Arizona's household income increased and is projected to increase more rapidly than all but one state.

"We are very pleased to be joining the Community Bancorp family," commented Jerry Ernst, President and Chief Executive Officer of Cactus Commerce Bank. "We started Cactus Commerce Bank with the goal of serving our small-business customers better than any other bank in the state, and this transaction will enhance our ability to serve those customers by allowing us to increase our product offerings and our legal lending limit, and accelerate the implementation of our business plan."

The acquisition is subject to the receipt of necessary regulatory approvals, and other customary closing conditions. The transaction is expected to be completed late in the third quarter or early in the fourth quarter of 2006.

About Community Bancorp

Community Bancorp is a bank holding company headquartered in Las Vegas, NV with $1.0 billion in assets as of June 30, 2006. Through its current 9 full service banking offices, it provides commercial banking services, including real estate, construction and commercial loans, to small and medium sized businesses. Community Bancorp recently announced its pending acquisition of Valley Bancorp, a $408 million Las Vegas based holding company whose banking subsidiary is Valley Bank. That acquisition is expected to be completed in the fourth quarter of 2006 and to be accretive to earnings in 2007. Upon the closing of the Valley and Cactus transactions, Community Bancorp will have approximately $1.4 billion in assets and 14 branches serving the growing communities of Clark and Nye Counties, Nevada, and 2 branch offices serving Maricopa County, Arizona.

About Cactus Commerce Bank

Cactus Commerce Bank was organized in November 2003 by Jerry Ernst, Marcus Faust, Ken Lehman and a board of directors comprising successful local business owners with deep local roots, all of whom are committed to building a bank that serves its small-business customers better than any other bank in the state. Cactus Commerce Bank has approximately $43 million of assets and operates from an office in Glendale, and a pending branch in Fountain Hills, Arizona.

Forward-Looking Statements

Statements concerning future performance, developments or events, expectations for growth and income forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties. Actual results may differ materially from stated expectations. Specific factors include, but are not limited to, loan production, balance sheet management, the economic condition of the Las Vegas and Maricopa County markets, net interest margin, the ability to control costs and expenses, interest rate changes and financial policies of the United States government, and general economic conditions. Additional information on theses and other factors that could affect financial results are included in our Securities and Exchange Commission filings.

When used in this release, the words or phrases such as "will likely result in," "management expects that," "will continue," "is anticipated," "estimate," "projected," or similar expressions, are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 ("PSLRA"). Readers should not place undue reliance on the forward-looking statements, which reflect management's view only as of the date hereof. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect subsequent events or circumstances. This statement is included for the express purpose of protecting Community Bancorp within PSLRA's safe harbor provisions.

Securities Law Matters

This News Release may be deemed to be solicitation material in respect to the proposed transaction between Community Bancorp and Valley Bancorp pursuant to an Agreement to Merge and Plan of Reorganization, dated as of June 28, 2006 by and among Community Bancorp and Valley Bancorp. While this News Release relates primarily to the pending acquisition of Cactus Commerce Bank, because of the pending acquisition of Valley Bancorp the filing of this News Release is being made in connection with Rules 165, 425 and 14a-12 promulgated by the Securities and Exchange Commission ("SEC").

In connection with the proposed acquisition of Valley Bancorp, Community Bancorp will file with the SEC a registration statement on SEC Form S-4. The registration statement will contain a joint proxy statement/prospectus which will describe the proposed transaction and its proposed terms and conditions. Shareholders of Community Bancorp and Valley Bancorp are encouraged to read the registration material and proxy statement/prospectus before making any voting or investment decisions because these documents will contain important information about the transaction. A definitive joint proxy statement will be sent to the shareholders of Community Bancorp and Valley Bancorp seeking required shareholder approvals of Community Bancorp's acquisition of Valley Bancorp. A copy of the Agreement was filed with the SEC as an exhibit to Community Bancorp's 8-K filed June 30, 2006, a separate filing from the Form S-4. The registration statement, the Form 8-K and all other documents filed with the SEC in connection with the transaction will be available for free when filed, both on SEC's web-site (www.sec.gov) or by contacting Cathy Robinson, Executive Vice President and Chief Financial Officer, Community Bancorp, 400 South 4th Street, Las Vegas, Nevada 89101. Additionally, all forms filed with the SEC and additional shareholder information is available free of charge on Community's web-site: www.communitybanknv.com. Community posts these reports to its web-site as soon as reasonably practicable after filing them with the SEC. None of the information on or hyper-linked from Community's web-site is incorporated into this press release.

DC Brands International Releasing Q&A Audio Files

At the close of business Thursday, DC Brands International, Inc. (PINKSHEETS: DCBI) announced that by the end of next week, the company will post its first Q&A audio file on the secured investor section of their website to help answer many of the questions received from their shareholders. The company's COO, Keith Howard, said, "We have been trying for months to come up with a way of perfecting our communications with our shareholders above and beyond our Dickens Cider Insider. We really wanted to find a viable way of allowing for efficient conference calls. However, they are expensive and very inconvenient for some people in certain parts of the country or world, and we do have shareholders in some 16 countries. Most importantly, it would be very difficult to field calls from hundreds of people at once anyway."

Mr. Howard continues, "This led us to the decision to bring in-house the equipment we needed to allow us to produce, edit and post a series of wave files so shareholders can get answers directly from the people in charge. We posted a list of questions a few months back that we were being asked and we did prepare the answers for our next Insider. However, Mr. Pearce was in his accident and we were set back several weeks. We are very pleased to announce that Richard is back to his normal 14-hour days and quickly getting us back on track. The format of the Q&A session will have me reading and asking Mr. Pearce many of the tough and most frequently asked questions from our shareholders. We are literally better than 80% done right now. However, we will be receiving some information/answers Monday and Tuesday that we need clarification on prior to completing it so we can provide the most up to date answers possible. I would strongly advise all shareholders to listen in and decide for themselves."

DC Brands International, Inc. markets its Dickens Energy Cider through a growing network of distributors nationwide. They intend for this new entry to the energy drink market to become a direct competitor to the market leaders Red Bull®, Monster®, and Rockstar®. However, they differentiate their drink with an additional ingredient, Horny Goat Weed, which adds a unique flavor that has won mouths over across the nation. As stated in previous press releases, DC Brands is also in the process of releasing their new "bag-in-the-box" and their alcohol versions of the product. (Please refer to those previous releases for more information.) The company's headquarters is located at 9500 W. 49th Ave Wheat Ridge, CO 80033. For more information on the company, visit their web site at DickensEnergyCider.com. Primary Contact: Keith Howard 303-279-3800.

Note: Except for the historical information contained herein, this news release contains forward-looking statements that involve substantial risks and uncertainties. Among the factors that could cause actual results or timelines to differ materially are risks associated with research and clinical development, regulatory approvals, supply capabilities and reliance on third-party manufacturers, product commercialization, competition, litigation, and the other risk factors listed from time to time in reports filed by DC Brands International with the Securities and Exchange Commission, including but not limited to risks described under the caption "Important Factors That May Affect Our Business, Our Results of Operation and Our Stock Price." The forward-looking statements contained in this news release represent judgments of the management of DC Brands International as of the date of this release. DC Brands International and its managers and agents undertake no obligation to publicly update any forward-looking statements

Nanno SOLUTIONS Announces Advisory Board; Exhibits at DAC in San Francisco, July 24 - July 27, Booth # 1415

Design Automation Conference, Booth 1415 -- Nanno SOLUTIONS, a startup in the DFM (Design for Manufacturing) space, announced the formation of a Technical Advisory Board (TAB) to provide strategic guidance to the company's R&D efforts.

The TAB consists of three prominent experts in the field of yield analysis and verification: Professor Steve (Sung-Mo) Kang, Dean of Baskin School of Engineering and Professor of Electrical Engineering, UC Santa Cruz; Jae-Kyung Wee, Associate Professor, Soongsil University, Korea; Young-Uk Yu, President and CEO of Seloco Inc. (Seoul, Korea) and MyCAD (Sunnyvale, Calif.).

Nanno SOLUTIONS will be a first-time exhibitor at the Design Automation Conference (DAC) at Moscone Center in San Francisco on July 24 - July 27 at Booth# 1415. The electronics and EDA community are invited to visit and learn more about how the company improves an engineer's life after tape out.

"Members of our TAB come from the academia as well as our industry and are recognized leaders or pioneers in their fields of research. We are very pleased to have professionals of such high caliber, and with expertise in silicon design and process technology, become part of our team. The TAB is providing technology guidance and directions to our engineering team to improve the highly complex effort of making fab data meaningful to design engineers," remarked Won-Young Jung, CTO & Executive Vice President of Nanno SOLUTIONS.

Technical Advisory Board Members

Professor Steve (Sung-Mo) Kang obtained his Ph.D degree from UC Berkeley in 1975. Currently Dean of Baskin School of Engineering, UC Santa Cruz, Professor Kang is a recognized leader in reliability and VLSI research. He was awarded a Technical Excellence Award from Semiconductor Research Corporation for his contributions to reliability and VLSI research. In 2005 he received IEEE Circuits and Systems Society's Mac E. Van Valkenburg Society Award. His areas of research interest include VLSI reliability, design for manufacturability, lower power design and CAD. Professor Kang's academic experience also includes a tenured professorship at the University of Illinois at Urbana-Champaign (UIUC). At UIUC, he served as professor of electrical and computer engineering, associate director of the NSF Engineering Research Center for Compound Semiconductor Microelectronics and department head (1995-2000). Dr. Kang worked at AT&T Bell Labs from 1977 to 1985 for development of full 32-bit CMOS microprocessor and peripheral chips and their production at Allentown Works.

Highlighted Links

Nanno SOLUTIONS home page

Jae-Kyung Wee received his Ph.D. degree in 1998 in electronics engineering in Modeling and Characterization of Interconnects for high-speed and high-density circuits at Seoul National University. Currently Associate Professor of Soongsil University, Korea, Wee brings a wealth of industry experience to academia. Prior to his university career, he worked for Hyundai Electronic Company on the process integration of 16MDRAM and logic devices and later in the development of the manufacturability 0.35mm CMOS logic technology for high-performance logic products. In August 1998, he served as a project leader of the Advanced Circuit Development Team. From August 1999 to June 2000, he was a project leader of 1G DDR SDRAM using 0.13mm technology. From July 2000, he also worked on next generation DRAM and its related system. His areas of research interest include power delivery design methods of SoC/SiP, high-speed and low-power digital bus design, and voltage regulator modules.

Young-Uk Yu, currently President and CEO of Seloco Inc. and MyCAD, Inc., is an EDA and IC design veteran with well over 30 years of experience in the industry. His career in semiconductor design can be traced back to 1975 when he joined the Korea Institute of Science and Technology (KIST) as a member of Technical Staff in Korea. In 1977, he became the head of the LSI Design Laboratory of the Korea Institute of Electronic Technologies (KIET, now ETRI). In 1982, his career path took him to California, where as the Director of KIET's US Office in Sunnyvale he managed a couple of VLSI design projects with a total of 16 designers from Korea at the Design Center of VLSI Technology, Inc., San Jose until 1985. After returning to ETRI, he managed their National R&D Project on VLSI CAD Technology Development until 1989. Besides being an engineering professional, Yu is also an entrepreneur, having founded Seodu Logic, in 1990 and MyCAD, in 1994. In 1997, he founded Seodu InChip in Seoul, specifically for WCDMA chip development. The Company was so successful that 3 years later in 2000 it was listed on KOSDAQ in Korea. He has been very active in various semiconductor and high tech areas and served as the Vice Chairman of the Korea Venture Business Association, the Chairman of the ASIC Company Association (now, IT SOC Industry Association) and the Chairman of ETRI Venture Business Association.

About Nanno SOLUTIONS

Nanno SOLUTIONS, Inc. was founded in 2004, is privately held, and offers yield improvement software to improve nanometer semiconductor manufacture. Its software products take the massive amount of process variation data and transform it into realistic values that designers understand. The products improve first time silicon success rate, offer better accuracy, run-time, accelerate yield and reduce design skew to improve time-to-market and time-to-profit.

The company headquarters are at 592 East Weddell Drive, suite 8, Sunnyvale, California 94089, and can be contacted by calling (Tel) 408-400-0688, or emailing info@nannosolutions.com. For more information, please visit. http://www.nannosolutions.com.

All trademarks and tradenames are the property of their respective holders

Teche Holding Company Quarterly Earnings Per Share Grow 29% to $0.84

(AMEX: TSH) -- Patrick Little, President and CEO of Teche Holding Company, holding company for Teche Federal Bank, today reported earnings for the Company for the quarter ended June 30, 2006.

Earnings for the quarter ended June 30, 2006 amounted to $1.9 million, or $0.84 per diluted share, compared to $1.5 million or $0.65 per diluted share for the same quarter in fiscal 2005, an increase of $0.19 per share, or 29%.

Earnings for the fiscal year to date, or past nine months, amounted to $5.5 million or $2.39 per diluted share, compared to $4.5 million or $1.92 per diluted share for fiscal 2005, an increase of $0.47 per diluted share, or 24%.

The Company reported the following key achievements:

-- Total Deposits, fiscal year to date (in the past nine months),

increased by $36.5 million, or 7.1%, to $552.6 million, from $516.1 million

at September 30, 2005.

-- Total SmartGrowth Deposits, fiscal year to date, increased by $30.7

million, or 13.7%, to $255.3 million, from $224.6 million, accounting for

84.0% of deposit growth in the past nine months.

-- Total Loans, fiscal year to date, increased by $17.4 million, or 3.5%,

to $510.4 million from $493.0 million at September 30, 2005.

-- Total SmartGrowth Loans, fiscal year to date, increased by $23.8

million, or 7.9%, to $324.3 million, from $300.4 million, accounting for

136.8% of loan growth in the past nine months.

-- Commercial Loans, fiscal year to date, increased by $15.5 million or

13.5% to $130.4 million from $114.9 million at September 30, 2005.

-- Non-Interest Income for the nine-month period increased by $1.5

million, or 17.8%, to $9.6 million, compared to $8.1 million for the same

period in fiscal 2005.

-- Net Interest Margin for the nine-month period increased to 3.50% from

3.21% despite the unfavorable interest rate environment.

-- Net Interest Income for the nine-month period increased by $1.5

million, or 9.7%, to $16.7 million, compared to $15.2 million for the same

period in fiscal 2005.

-- New Loans in the past nine months were $155.6 million, of which $131.7

million, or 85%, were SmartGrowth loans.

-- New Commercial Loans in the past nine months were $83.7 million, or

53% of all new loans, compared to $49.8 million for the same period in

fiscal 2005.

-- Dividends increased to $0.81 per share for the nine-month period

compared to $0.69 per share for the same period in fiscal 2005, an increase

of 17%.

Deposit Growth

Nine-Month Growth. Total deposits, for fiscal 2006 (the past nine months) grew by $36.5 million, or 7.1% to $552.6 million, from $516.1 million.

Three-Month Growth. Total deposits, compared to the linked quarter, grew by $4.0 million, or 0.7%, to $552.6 million, from $548.6 million.

SmartGrowth Deposits

Nine-Month Growth. SmartGrowth Deposits, consisting of checking accounts, savings accounts and money market accounts, for fiscal year to date grew by $30.7 million, or 13.7%, to $255.3 million at June 30, 2006 from $224.6 million at September 30, 2005. This increase in SmartGrowth deposits amounted to 136.8% of deposit growth over the past nine months. Checking account balances grew by $22.0 million, or 21.3%, to $125.4 million, from $103.4 million, accounting for 60.1% of the growth in deposits thus far in fiscal 2006.

Three-Month Growth. SmartGrowth Deposits grew by $2.7 million, or 1.1%, compared to the linked quarter.

SmartGrowth Deposits now amount to approximately 46.2% of all deposits compared to 46.0% at March 31, 2006 and 43.5% at September 30, 2005.

Loan Growth

Nine-Month Growth. Loan growth, fiscal year to date, was $17.4 million, or 3.5%. Total loans at June 30, 2006 were $510.4 million.

Three-Month Growth. Loan growth, compared to the linked quarter, was $6.2 million, or 1.2%.

SmartGrowth Loans

Nine-Month Growth. SmartGrowth Loans, consisting of commercial loans, home equity loans, alternative mortgage loans and consumer loans, grew by $23.8 million, or 7.9%, to $324.3 million at June 30, 2006 from $300.4 million at September 30, 2005, primarily due to growth in commercial loans. For the nine-month period, commercial loans grew by $15.5 million, or 13.5%, to $130.4 million.

Three-Month Growth. SmartGrowth Loans posted linked quarter growth of $6.1 million, or 1.9%, to $324.3 million from $318.1 million, primarily due to growth in consumer loans. Quarterly growth for consumer loans was $3.8 million, or 7.1%.

SmartGrowth Loans amounted to 63.5% of total loans, compared to 60.9% at September 30, 2005.

After some shrinkage of the loan portfolio (including the commercial loan portfolio) in the first quarter, in part because of delays in loan closing dates caused by Hurricanes Katrina and Rita, loans grew in the third quarter of fiscal 2006. Teche Federal Bank's commercial loans consist predominantly of commercial real estate loans.

Net Interest Income

Interest Income for the nine months ended June 30, 2006, increased by $2.0 million, or 7.5%, to $29.0 million compared to $27.0 million for the same period in fiscal 2005, primarily due to an increase in the average balances of and yields on consumer and commercial loans.

Interest Expense for the nine months ended June 30, 2006, increased by $530,000,or 4.5%, to $12.2 million compared to $11.7 million for the same period in fiscal 2005, primarily due to an increase in the average balance of and rates paid on deposits.

Net-interest income for the 2006 nine-month period amounted to $16.7 million, compared to $15.2 million for the nine months ended June 30, 2005, an increase of $1.5 million, or 9.7%.

Interest Income for the quarter ended June 30, 2006, increased by $649,000, or 7.0%, compared to the same period in fiscal 2005, primarily due to an increase in the average balance and yields of consumer and commercial loans.

Interest Expense for the quarter ended June 30, 2006, increased by $214,000, or 5.3%, primarily due to an increase in the average balance and rates paid on deposits.

Net interest income for the three months ended June 30, 2006, amounted to $5.7 million compared to $5.2 million for the same quarter last year, an increase of $435,000 or 8.3%.

The increase in net interest income was primarily due to growth in both the yields on and average balances of the consumer and commercial loan portfolio. These increases were offset somewhat by an increase in the average balances of and interest rates paid on interest bearing deposit accounts.

Non-Interest Income

Nine Months. Non-interest income for fiscal 2006 year to date was $9.6 million, compared to $8.1 million for the same period in fiscal 2005, an increase of $1.5 million, or 17.8%. Non-interest income for this period amounted to 36.5% of operating income. Deposit service charges amounted to 88.6% of total non-interest income for the nine-month period ended June 30, 2006, compared to 86.4% in 2005.

Three Months. Quarterly non-interest income was $3.4 million, compared to $2.9 million for the same quarter in fiscal 2005, an increase of $494,000, or 17.0%. Non-interest income amounted to 37.5% of operating revenue. Deposit service charges amounted to 92.0% of total non-interest income for this quarter, compared to 86.8% in 2005.

Non-Interest Expense

For the nine-month period ended June 30, 2006, non-interest expense amounted to $18.0 million, compared to $16.7 million for the same period for fiscal 2005, an increase of $1.3 million, or 7.7%.

Quarterly non-interest expense amounted to $6.1 million for the quarter compared to $5.8 million for the three months ended June 30, 2005, an increase of $205,000 or 3.5%, primarily due to compensation expense resulting from expensing of stock options and an increase in commercial loan staff.

Asset Quality

Non-performing assets as a percent of total assets decreased to 0.59% at June 30, 2006, compared to 0.64% at March 31, 2006, and 0.71% at December 31, 2005.

Originally, 71 customers, whose aggregate loan balances amounting to $3.8 million, were granted forbearance as a result of the impact of hurricanes Katrina and Rita. Of these, currently 9 customers with aggregate loan balances amounting to $670,000 continue to receive forbearance of some type. Loans granted forbearance receive new temporary terms and are considered performing loans.

Management's evaluation of the level of loan loss reserves includes the effects of the recent hurricanes and believes that the current level of reserves is adequate.

Increase in Dividends

Since June 2003, Teche has increased dividends for thirteen consecutive quarters and currently pays a $0.28 per share quarterly dividend. Based on the closing price of our common stock at end of business on June 30, 2006, the annualized dividend yield was 2.42%. Based on dividends and diluted EPS fiscal year to date, the dividend payout ratio is 33.9%.

Net Interest Margin

The net interest margin increased to 3.50% for the nine months ended June 30, 2006, compared to 3.21% for the same period in fiscal 2005 for several reasons. First, interest on loans increased, primarily due to increases in interest rates and to an increase in SmartGrowth loan balances compared to last year. Second, both SmartGrowth low-cost deposit balances and time deposit balances increased, replacing higher cost FHLB advances.

For the quarter, net interest margin increased to 3.53% compared to 3.25% for the same quarter in fiscal 2005 for the same reasons set forth above. As compared to the linked quarter ended March 31, 2006, net interest margin decreased slightly from 3.59% primarily due to increases in interest rates paid on deposits as a result of rising market interest rates.

Compared to the linked quarter, FHLB advances decreased by $1.2 million, or 1.5%, to $78.6 million from $79.9 million. For fiscal 2006, FHLB advances decreased $14.8 million or 15.8%. A year ago, FHLB advances were $115.8 million, a one-year decrease of $37.2 million, or 32.1%.

"Over the past year, as deposits have dramatically increased, we have also dramatically decreased advances from the Federal Home Loan Bank," said Little. "This process, and the continued execution of our SmartGrowth strategy, has positively affected our net interest margin."

Teche Federal Bank is the fourth largest publicly traded bank based in Louisiana with over $700 million in assets. Teche Holding Company is the parent company of Teche Federal Bank, which operates nineteen offices in South Louisiana and serves over 50,000 customers. Teche Holding Company's common stock is traded under the symbol "TSH" on the American Stock Exchange.

Statements contained in this news release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties which could cause actual results to differ materially from those currently anticipated due to a number of factors, which include, but are not limited to, factors discussed in documents filed by Teche Holding Company with the Securities and Exchange Commission from time to time. The Company does not undertake to update any forward-looking statement, whether written or oral, that may be made from time to time by or on behalf of the Company.

TECHE HOLDING COMPANY

(Dollars in thousands, except per share data)

Franklin, LA

Statements of Income

(UNAUDITED)

Three Months Ended Nine Months Ended

June 30 June 30

2006 2005 2006 2005

-------- -------- -------- --------

Interest Income $ 9,917 $ 9,268 $ 28,963 $ 26,955

Interest Expense 4,261 4,047 12,243 11,713

-------- -------- -------- --------

Net Interest Income 5,656 5,221 16,720 15,242

Provision for Loan Losses 60 45 150 105

-------- -------- -------- --------

Net Interest Income after

Provision for Loan Losses 5,596 5,176 16,570 15,137

Non-Interest Income 3,395 2,901 9,613 8,161

Non-Interest Expenses 6,052 5,847 17,957 16,668

-------- -------- -------- --------

Income Before Gain on Sales of

Securities and Income Taxes 2,939 2,230 8,226 6,630

Gains on

Sales of Securities - - 34 26

Income Taxes 1,013 725 2,742 2,163

-------- -------- -------- --------

Net Income $ 1,926 $ 1,505 $ 5,518 $ 4,493

======== ======== ======== ========

Selected Financial Data

Dividends Declared Per Share $ 0.28 $ 0.24 $ 0.81 $ 0.69

Basic Earnings Per Common Share $ 0.86 $ 0.68 $ 2.46 $ 2.02

Diluted Earnings Per Common Share $ 0.84 $ 0.65 $ 2.39 $ 1.92

Annualized Return on Avg. Assets 1.11% 0.87% 1.07% 0.88%

Annualized Return on Avg. Equity 12.40% 9.93% 11.91% 9.94%

Annualized Return on Avg.

Tangible Equity (1) 13.35% 10.79% 12.84% 10.81%

Net Interest Margin 3.53% 3.25% 3.50% 3.21%

Non-Interest Income/Avg. Assets 1.96% 1.68% 1.87% 1.61%

Non-Interest Expense/Avg. Assets 3.50% 3.39% 3.49% 3.28%

(1) Eliminates the effect of goodwill and the core deposit intangible

assets and the related amortization expense on a tax effected basis. The

amount was calculated using the following information:

Annualized Return on Avg.

Tangible Equity (1)

Average Stockholders’ Equity $ 62,117 $ 60,646 $ 61,751 $ 60,262

Less average goodwill and other

intangible assets, net of related

income taxes 3,828 3,904 3,847 3,891

--------- --------- --------- ---------

Average Tangible Equity $ 58,289 $ 56,742 $ 57,904 $ 56,371

========= ========= ========= =========

Net Income $ 1,926 $ 1,505 $ 5,518 $ 4,493

Plus Amoritization of core deposit

Intangibles, net of related income 19 26 56 79

--------- --------- --------- ---------

Net Income, as adjusted $ 1,945 $ 1,531 $ 5,574 $ 4,572

========= ========= ========= =========

TECHE HOLDING COMPANY

(Dollars in thousands, except per share data)

Franklin, LA

Balance Sheets

(UNAUDITED)

June 30, Sept. 30,

2006 2005

SmartGrowth Loans* $ 324,259 $ 300,443

Mortgage Loans** 186,147 192,524

--------- ---------

510,406 492,967

Allowance for Loan Losses 4,831 (5,151)

--------- ---------

Loans Receivable, Net 505,575 487,816

Cash and Securities 153,916 150,991

Goodwill and Other Intangibles 3,899 3,982

Foreclosed Real Estate 1,322 270

Other 35,301 33,763

--------- ---------

TOTAL ASSETS $ 700,013 $ 676,822

========= =========

SmartGrowth Deposits*** $ 255,341 $ 224,611

Time Deposits 297,246 291,441

--------- ---------

Total Deposits 552,587 516,052

FHLB Advances 78,631 93,409

Other Liabilities 6,592 6,023

Stockholders’ Equity 62,203 61,338

--------- ---------

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 700,013 $ 676,822

========= =========

Ratio of Equity to Assets 8.89% 9.06%

Tangible Equity to Tangible Assets (2) 8.39% 8.53%

Book Value per Common Share $ 27.88 $ 26.79

Tangible Book Value Per Common Share (2) $ 26.17 $ 25.09

Non-performing Assets/Total Assets 0.60% 0.78%

Shares Outstanding (in thousands) 2,231 2,290

* Consumer, Commercial, Home Equity, and Alternative Mortgage Loans

** Owner Occupied Conforming Mortgage Loans

*** Checking, Money Market and Savings Deposits

(2) Eliminates the effect of goodwill and the core deposit intangible

assets and the related accumulated amortization on a tax-effected basis.

The amount was calculated using the following information:

Stockholders’ Equity $ 62,203 $ 61,338

Less goodwill and other Intangible assets, net of

related income taxes 3,817 3,886

--------- ---------

Tangible Stockholders’ Equity $ 58,386 $ 57,452

========= =========

Total Assets $ 700,013 $ 677,222

Less goodwill and other Intangible assets, net of

related income taxes 3,817 3,886

--------- ---------

Total Tangible Assets $ 696,196 $ 673,336

========= =========

GOOGLE ANNOUNCES SECOND QUARTER 2006 RESULTS

Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter ended June 30, 2006. "Google grew at an impressive pace during a seasonally slower quarter," said Eric Schmidt, CEO of Google. "We continue to deliver valuable new products and services to users around the world through our partnerships and investments in our business. Our strong performance results from our clear focus on increasing the quality of user experience, particularly in search and ads." Q2 Financial Summary Google reported revenues of $2.46 billion for the quarter ended June 30, 2006, an increase of 77% compared to the second quarter of 2005 and an increase of 9% compared to the first quarter of 2006. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC. In the second quarter of 2006, TAC totaled $785 million, or 32% of advertising revenues. Google reports operating income, net income, and earnings per share (EPS) on a GAAP and non-GAAP basis. The non-GAAP measures are described below in the section titled "About non-GAAP financial measures" and are reconciled to the corresponding GAAP measure in the accompanying financial tables. · GAAP operating income for the second quarter of 2006 was $815 million, or 33% of revenues. This compares to GAAP operating income of $743 million, or 33% of revenues, in the first quarter of 2006. Non-GAAP operating income in the second quarter was $925 million, or 38% of revenues. This compares to non-GAAP operating income of $887 million, or 39% of revenues, in the first quarter. · GAAP net income for the second quarter was $721 million as compared to $592 million in the first quarter. Non-GAAP net income was $772 million, compared to $697 million in the first quarter. · GAAP EPS for the second quarter was $2.33 on 310 million diluted shares outstanding, compared to $1.95 for the first quarter, on 304 million diluted shares outstanding. Non-GAAP EPS was $2.49, compared to $2.29 in the first quarter. · In the second quarter of 2006, non-GAAP operating income is computed net of stock-based compensation (SBC), and non-GAAP net income and non-GAAP EPS are computed net of SBC and gains from the sale of our investment in Baidu. In the second quarter, the charge related to stock-based compensation was $109 million as compared to $115 million in the first quarter. Investment gains related to the sale of the investment in Baidu were $55 million in the second quarter. In the first quarter, we excluded $30 million in plaintiffs' attorneys' fees related to a legal settlement from the calculation of non-GAAP operating income, non-GAAP net income and non-GAAP EPS. Tax effects related to SBC charges, the sale of the investment in Baidu, and the plaintiffs' attorneys' fees have also been excluded from non-GAAP calculations. The tax benefit related to SBC was $26 million in the second quarter and $27 million in the first quarter. The tax expense related to the investment gains from the sale of the Baidu investment in the second quarter was $23 million. The tax benefit related to plaintiffs' attorneys' fees related to a legal settlement in the first quarter was $12 million. Reconciliations of non-GAAP measures to GAAP operating income, net income, and EPS are included at the end of this release. Q2 Financial Highlights Revenues - Google reported revenues of $2.46 billion for the quarter ended June 30, 2006, representing a 77% increase over second quarter 2005 revenues of $1.38 billion and a 9% increase over first quarter 2006 revenues of $2.25 billion. Google reports its revenues, consistent with GAAP, on a gross basis without deducting traffic acquisition costs, or TAC. Google Sites Revenues - Google-owned sites generated revenues of $1.43 billion, or 58% of total revenues. This represents a 94% increase over second quarter 2005 revenues of $737 million and a 10% increase over first quarter 2006 revenues of $1.30 billion. Google Network Revenues - Google's partner sites generated revenues, through AdSense programs, of $997 million, or 41% of total revenues. This is a 58% increase over network revenues of $630 million generated in the second quarter of 2005 and a 7% increase over first quarter 2006 revenues of $928 million. International Revenues - Revenues from outside of the United States contributed 42% of total revenues, compared to 42% in the first quarter of 2006 and 39% in the second quarter of 2005. Had foreign exchange rates remained constant from the first quarter through the second quarter of 2006, our revenues would have been $26 million lower. Had foreign exchange rates remained constant from the second quarter of 2005 through the second quarter of 2006, our revenues would have been $18 million higher. TAC - Traffic Acquisition Costs, the portion of revenues shared with Google's partners, increased to $785 million in the second quarter. This compares to TAC of $723 million in the first quarter. TAC as a percentage of advertising revenues remained flat at 32% from the first quarter to the second quarter. Other Cost of Revenues - Other cost of revenues, which is comprised primarily of data center operational expenses, as well as credit card processing charges, increased to $204 million, or 8% of revenues, in the second quarter, compared to $181 million, or 8% of revenues, in the first quarter. Other cost of revenues also included stock-based compensation of $2 million in the second quarter, compared to $2 million in the first quarter of 2006. Operating Expenses - Operating expenses, other than cost of revenues, were $652 million in the second quarter. Operating expenses included $342 million in headcount-related and facilities expenses, $107 million in stock-based compensation, and $49 million in advertising and promotional expenses, of which $24 million was related to certain distribution deals. In addition, stock-based compensation is included in operating expenses, but excluded from non-GAAP calculations. Stock-Based Compensation - In the second quarter, the total charge related to stock-based compensation was $109 million as compared to $115 million in the first quarter. For the full year, we expect stock-based compensation charges for grants to employees prior to July 1, 2006 to be $375 million. This does not include expenses to be recognized over the remainder of the year related to employee stock awards that are granted after July 1, 2006 or non-employee stock awards that have been or may be granted. We currently anticipate that dilution related to all equity grants to employees will be approximately 1% to 1.5% per year. Operating Income - GAAP operating income in the second quarter was $815 million, or 33% of revenues. This compares to GAAP operating income of $743 million, or 33% of revenues, in the first quarter. GAAP operating income includes stock-based compensation in the first and second quarters and plaintiffs' attorneys' fees related to a legal settlement of $30 million in the first quarter. Non-GAAP operating income in the second quarter was $925 million, or 38% of revenues. This compares to non-GAAP operating income of $887 million, or 39% of revenues, in the first quarter. Net Income - GAAP net income for the second quarter was $721 million as compared to $592 million in the first quarter. Non-GAAP net income was $772 million, compared to $697 million in the first quarter. GAAP EPS for the second quarter was $2.33 on 310 million diluted shares outstanding, compared to $1.95 for the first quarter, on 304 million diluted shares outstanding. Non-GAAP EPS for the second quarter was $2.49, compared to $2.29 in the first quarter. Income Taxes - Our effective tax rate was 26% for the second quarter and the six months ended June 30, 2006. We currently anticipate that our effective tax rate for the full year will be at or below 30%. Cash Flow and Capital Expenditures - Net cash provided by operating activities for the second quarter totaled $841 million as compared to $825 million for the first quarter. In the second quarter of 2006, capital expenditures were $699 million, including $319 million related to real estate purchases in Mountain View, CA. Free cash flow, an alternative non-GAAP measure of liquidity, is defined as net cash provided by operating activities less capital expenditures. In the second quarter, free cash flow was $142 million. We expect that the growth rate in capital expenditures in 2006 will be substantially greater than the revenue growth rate for the year. We expect the majority of investment to be focused on IT infrastructure including servers, networking equipment, and data centers, as well as real estate and campus facilities. A reconciliation of free cash flow to net cash provided by operating activities, the GAAP measure of liquidity, is included at the end of this release. Cash - As of June 30, 2006, cash, cash equivalents, and marketable securities were $9.82 billion. This balance reflects the net proceeds of $2.06 billion from the public offering that closed in early April as well as the impact of the cash investment of $1 billion in AOL in early April. On a worldwide basis, Google employed 7,942 full-time employees as of June 30, 2006, up from 6,790 full time employees as of March 31, 2006. WEBCAST AND CONFERENCE CALL INFORMATION A live audio webcast of Google's second quarter 2006 earnings release call will be available at http://investor.google.com/news.html. The call begins today at 1:30 PM (PT) / 4:30 PM (ET). This press release, the financial tables, as well as other supplemental information including the reconciliations of certain non-GAAP measures to their nearest comparable GAAP measures, are also available at that site. A replay of the call will be available beginning at 7:30 PM (ET) today through midnight Thursday, July 27, 2006 by calling 888-203-1112 in the United States or 719-457-0820 for calls from outside the United States. The required confirmation code for the replay is 1066064. FORWARD LOOKING STATEMENTS This press release contains forward-looking statements that involve risks and uncertainties, including statements relating to our plans to invest in our business, our expected stock-based compensation, the expected dilution related to equity grants to our employees, our anticipated tax rate for 2006, and our expectation that the growth rate in our capital expenditures will be substantially greater than our revenue growth rate for the year. Actual results may differ materially from the results predicted and reported results should not be considered as an indication of future performance. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, risks related to our hiring patterns, the amount of stock-based compensation we issue to our service providers, the uncertain and complex nature of tax forecasting, the fact that we may have exposure to greater than expected tax liabilities, and our need to expend capital to accommodate the growth of the business, as well as those risks and uncertainties included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations," in our report on Form 10-Q for the quarter ended March 31, 2006, which is on file with the SEC and is available on our investor relations website at investor.google.com and on the SEC's website at www.sec.gov. Additional information will also be set forth in our quarterly report on Form 10-Q for the quarter ended June 30, 2006, which will be filed with the SEC in August 2006. All information provided in this release and in the attachments is as of July 20, 2006, and Google undertakes no duty to update this information. ABOUT NON-GAAP FINANCIAL MEASURES To supplement our consolidated financial statements presented in accordance with GAAP, we use the following measures defined by the SEC as non-GAAP financial measures: non-GAAP operating income, non-GAAP net income, non-GAAP operating margins, non-GAAP EPS and free cash flow. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the tables captioned "Reconciliations of non-GAAP results of operations measures to the nearest comparable GAAP measures" and "Reconciliation from net cash provided by operating activities to free cash flow" included at the end of this release. We use these non-GAAP financial measures for financial and operational decision making and as a means to evaluate period-to-period comparisons. Our management believes that these non-GAAP financial measures provide meaningful supplemental information regarding our performance and liquidity by excluding certain expenses and expenditures that may not be indicative of our "core business operating results," primarily meaning our operating performance from a cash perspective. We believe that both management and investors benefit from referring to these non-GAAP financial measures in assessing our performance and when planning, forecasting and analyzing future periods. These non-GAAP financial measures also facilitate management's internal comparisons to our historical performance and liquidity as well as comparisons to our competitors' operating results. We believe these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. Non-GAAP operating income and operating margin. Non-GAAP operating income is defined as operating income minus stock-based compensation and the plaintiffs' attorneys' fees related to a legal settlement of $30 million in the first quarter of 2006. Non-GAAP operating margin is defined as non-GAAP operating income divided by revenues. Google considers these non-GAAP financial measures to be a useful metric for management and investors because they exclude a one-time event (i.e. the settlement of a legal matter) that is not part of our core business operating results. By excluding these one-time events, management and investors are better able to compare our core operating results over multiple periods. Similarly, these non-GAAP financial measures exclude the effect of stock-based compensation so that Google's management and investors can compare Google's core business operating results over multiple periods in a manner that is not distorted by Google's recent adoption of FAS 123R in fiscal year 2006. Moreover, because of varying available valuation methodologies, subjective assumptions and the variety of award types that companies can use when adopting FAS 123R, Google's management believes that providing a non-GAAP financial measure that excludes stock-based compensation allows investors to make more meaningful comparisons between Google's core business operating results and those of other companies, as well as providing Google's management with an important tool for financial and operational decision making and for evaluating Google's own core business operating results over different periods of time. A limitation of using non-GAAP operating income versus operating income calculated in accordance with GAAP is that non-GAAP operating income excludes some costs, namely, stock-based compensation, that are recurring. Stock-based compensation has been and will continue to be for the foreseeable future a significant recurring expense in Google's business. Management compensates for this limitation by providing specific information regarding the GAAP amounts excluded from non-GAAP operating income and evaluating non-GAAP operating income together with operating income calculated in accordance with GAAP. Non-GAAP net income and non-GAAP EPS. Non-GAAP net income is defined as net income minus stock-based compensation, the gains from the sale of our investment in Baidu in the second quarter of 2006 and the plaintiffs' attorneys' fees related to a legal settlement of $30 million in the first quarter of 2006. Non-GAAP EPS is defined as non-GAAP net income divided by the weighted average shares outstanding as of June 30, 2006. We consider these non-GAAP financial measures to be a useful metric for management and investors for the same reasons that Google uses non-GAAP operating income and non-GAAP operating margin. However, in order to provide a complete picture of our core business operating results, we exclude from non-GAAP net income and non-GAAP EPS the tax effects associated with stock-based compensation, the gains from the sale of our investment in Baidu in the second quarter of 2006 and the plaintiffs' attorneys' fees related to a legal settlement of $30 million in the first quarter of 2006. Without excluding these tax effects, investors would only see the gross effect that excluding these expenses and gains had on our operating results. A limitation of these non-GAAP financial measures is that they do not include all items that impact Google's net income and net income per share for the period. Management compensates for this limitation by providing specific information regarding the GAAP amounts excluded from non-GAAP net income and non-GAAP EPS and evaluating non-GAAP net income and non-GAAP EPS together with net income and EPS calculated in accordance with GAAP. Free cash flow. Free cash flow is defined as net cash provided by operating activities minus capital expenditures. We consider free cash flow to be a liquidity measure that provides useful information to management and investors about the amount of cash generated by the business that, after the acquisition of property and equipment, including information technology infrastructure and land and buildings, can be used for strategic opportunities, including investing in our business, making strategic acquisitions and strengthening the balance sheet. Analysis of free cash flow also facilitates management's comparisons of our operating results to competitors' operating results. A limitation of using free cash flow versus net cash provided by operating activities as a means for evaluating Google is that free cash flow does not represent the total increase or decrease in the cash balance for the period as it excludes cash used for capital expenditures during the period. Our management compensates for this limitation by providing information about our capital expenditures on the face of its cash flow statement and under Management's Discussion and Analysis of Financial Condition and Results of Operations in its Form 10-Q. Google has computed free cash flow using the same consistent method from quarter to quarter and year to year. The accompanying tables have more details on the GAAP financial measures that are most directly comparable to non-GAAP financial measures and the related reconciliations between these financial measures.

Atlas America, Inc. Announces Pricing of Atlas Pipeline Holdings, L.P. Initial Public Offering

Atlas America, Inc. (NASDAQ: ATLS) (the "Company") announces that Atlas Pipeline Holdings, L.P. ("Atlas Holdings"), currently its wholly owned subsidiary, has priced the initial public offering of 3,600,000 of its common units at $23.00 per unit.

The common units will begin trading tomorrow on the New York Stock Exchange under the ticker symbol "AHD." This offering represents an approximate 17% interest to the public in Atlas Holdings. Subsequent to the offering, the remaining approximate 83% interest will be owned by the Company. The underwriters have been granted a 30-day option to purchase up to 540,000 additional common units. The offering is expected to close on July 26, 2006.

Lehman Brothers Inc. is acting as the sole book-runner and Citigroup Global Markets Inc., A.G. Edwards & Sons, Inc. and Wachovia Capital Markets, LLC are joint-lead managers for the offering. In addition, Friedman, Billings, Ramsey & Co., Inc., Credit Suisse Securities (USA) LLC, and Sanders Morris Harris, Inc. are acting as co-managers for the offering.

A registration statement relating to these securities was declared effective on July 20, 2006. This press release shall not constitute an offer to sell nor the solicitation of an offer to buy any securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction. A copy of the prospectus relating to this offering may be obtained from Lehman Brothers Inc., c/o ADP Financial Services, Integrated Distribution Services, 1155 Long Island Avenue, Edgewood, NY 11717, Fax: 631-254-7268, email: monica_castillo@adp.com, or from any of the other underwriters.

Atlas Pipeline Holdings, L.P. is a limited partnership formed to own and control Atlas Pipeline Partners GP, LLC, the general partner of Atlas Pipeline Partners, L.P., through which it will own a 2% general partner interest in Atlas Pipeline Partners, L.P. (NYSE: APL), all the incentive distribution rights in Atlas Pipeline Partners, L.P. and 1,641,026 common units of Atlas Pipeline Partners, L.P.

Atlas America, Inc. is an energy company engaged primarily in the development and production of natural gas in the Appalachian Basin for its own account and for its investors through the offering of tax advantaged investment programs. For more information, please visit our website at www.atlasamerica.com, or contact investor relations at bbegley@atlasamerica.com.

Certain matters discussed within this press release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Although Atlas America, Inc. believes the expectations reflected in such forward-looking statements are based on reasonable assumptions, it can give no assurance that its expectations will be attained. Factors that could cause actual results to differ materially from expectations include financial performance, regulatory changes, changes in local or national economic conditions and other risks detailed from time to time in the Company's reports filed with the SEC, including quarterly reports on Form 10Q, reports on Form 8-K and annual reports on Form 10-K

CVS/pharmacy and IBM Sign 10-Year Human Resources Services Agreement

IBM today announced a 10-year Business Transformation Outsourcing (BTO) agreement designed to transform and manage key human resources (HR) transactional services for CVS/pharmacy.

CVS/pharmacy, America's largest retail pharmacy, operates more than 6,100 retail and specialty pharmacy stores across the US. CVS/pharmacy has more than 170,000 employees across the US.

Through its arrangement with IBM, CVS/pharmacy can improve service, and deliver enhanced human resources services in a more real-time, flexible manner. To achieve these goals, IBM will leverage enhanced tools and technologies complemented by best practices for process transformation. As part of the arrangement, IBM will also provide support for the administration of compensation, performance management, payroll, benefits, workforce analytics, recruiting and staffing. IBM will also provide HR call center support. This new generation of human resources services places an emphasis on ease and convenience for employees while providing CVS with flexibility in managing the variable costs associated with HR.

"In less than two years, CVS/pharmacy has added 55,000 employees throughout the U.S. through our strategic acquisitions. This rapid growth has stretched our current systems supporting human resources transactions," said V. Michael Ferdinandi, Senior Vice President, Human Resources and Corporate Communications, CVS/pharmacy. "Through this agreement with IBM, CVS/pharmacy will have access to the skills and technology needed to provide improved human resources tools to employees today and into the future as the company continues to grow. Our decision to purchase these services from IBM was not primarily driven by cost considerations, although this change in service delivery does achieve efficiencies for us," Ferdinandi added. "It also provides needed technology to improve human resources tools for our stores."

"Leading companies such as CVS/pharmacy are increasingly using business transformation outsourcing as a tool to drive strategic value, allowing them to become more flexible and adaptive while focusing employees on the company's core competencies," said Marc Lautenbach, General Manager, IBM Americas. "IBM's extensive experience in human resources services and the retail industry will bring innovation and new efficiencies to CVS/pharmacy and its employees."

CVS will be transitioning support for selected human resources transactions to IBM throughout 2006 and 2007.

Atlas Pipeline Holdings, L.P. Announces Pricing of Initial Public Offering

Atlas Pipeline Holdings, L.P. ("Atlas Holdings"), which will own a 2% general partner interest, all the incentive distribution rights and 12.6% of the common units of Atlas Pipeline Partners, L.P. (NYSE: APL), announced today the pricing of its initial public offering of 3,600,000 of its common units at $23.00 per unit.

The common units will begin trading tomorrow on the New York Stock Exchange under the ticker symbol "AHD." This offering represents an approximate 17% interest to the public in Atlas Holdings. Subsequent to the offering, the remaining approximate 83% interest will be owned by Atlas America, Inc. (NASDAQ: ATLS). The underwriters have been granted a 30-day option to purchase up to 540,000 additional common units. The offering is expected to close on July 26, 2006.

Atlas Pipeline Holdings, L.P. is a limited partnership formed to own and control Atlas Pipeline Partners GP, LLC, the general partner of Atlas Pipeline Partners, L.P., through which it will own a 2% general partner interest in Atlas Pipeline Partners, L.P., all the incentive distribution rights in Atlas Pipeline Partners, L.P. and 1,641,026 common units of Atlas Pipeline Partners, L.P.

Atlas Pipeline Partners, L.P. ("APL") is active in the transmission, gathering and processing segments of the midstream natural gas industry. In the Mid-Continent region of Oklahoma, Arkansas, northern Texas and the Texas panhandle, APL owns and operates approximately 2,565 miles of intrastate gas gathering pipeline and a 565-mile interstate natural gas pipeline. APL also operates two gas processing plants and a treating facility in Velma, Elk City and Prentiss, Oklahoma where natural gas liquids and impurities are removed. In Appalachia, it owns and operates approximately 1,500 miles of natural gas gathering pipelines in western Pennsylvania, western New York and eastern Ohio. For more information, visit our website at www.atlaspipelinepartners.com or contact bbegley@atlaspipelinepartners.com.

Statements made in this release include forward-looking statements, which involve substantial risks and uncertainties. Atlas Holdings' actual results, performance or achievements could differ materially from those expressed or implied in this release as a result of certain factors, including competition within the energy industry, climactic conditions and the price of gas in the Appalachian and Mid-Continent areas, actual versus projected volumetric production from wells connected to APL's gas-gathering pipeline system, and the cost of supplies and services in the energy industry.

Americana Distribution, Inc. Subsidiary, Americana Licensing, Inc., Named as Consultant to the Sports Licensing & Entertainment Marketplace Trade Show
Major Event Scheduled for Nov. 9 - 11, 2006 at Las Vegas Convention Center

Americana Distribution, Inc. (OTCBB: ADBN) and its subsidiary, Americana Licensing, Inc. (R & R Licensing Holdings, Inc.), today announced it will consult to ShowProCo's new sports licensing trade show, through an agreement reached between CEO of Americana Licensing Richard Blank and Showpro, designed to showcase the huge licensing opportunities in the sports industry.

The show is scheduled for Nov. 9 - 11, 2006 at the Las Vegas Convention Center.

ShowProCo, LLC, producers of the Sports Licensing & Entertainment Marketplace Trade Show, will utilize Americana Licensing, Inc. due to the extensive experience and reputation of the management of Americana Licensing in the licensing industry.

"This will be the biggest three days on the sports licensing calendar," said Richard Blank, CEO of Americana Licensing. "This industry event will feature the biggest licensors, licensees, best products and hottest stars."

As part of the event, there will be a parallel specialty show built around a new retail category exploding with potential called Tailgating-Picnic!

Americana Licensing is a license and royalty management company. The company's main focus is the implementation and expansion of comprehensive licensing programs designed to maximize royalty income for its clients. The company manages all aspects of royalty collection and distribution for its clients and sells licenses on their behalf.

For more information on participation in the Sports Licensing & Entertainment Marketplace or the Tailgate-Picnic Show, please call 212-750-5001 or email to rmb@rrlicensing.com

About Americana Distribution, Inc.

Americana Distribution, Inc. has been involved in the multimedia publishing industry primarily in the areas of publishing and selling audio and print books in a variety of genres. Product sales have been conducted through a distribution network of retail stores, libraries and truck stops. Through its recent acquisition of Americana Licensing, Inc., it manages licensing programs for corporations, brand owners, celebrities, athletes, inventors, artists, and designers. Based in the heart of New York City, the company possesses extensive resources to help in the successful building of major brands, trademarks, products, characters, inventions and more. The company has established itself as a leader in licensing world heritage brands based on museum and palace properties, including the Historic Royal Palaces of England and the St. Petersburg Russian Museum Collection. Additionally, the company manages licensing programs for children's, corporate, celebrity, and other brands. Americana Licensing, Inc. was founded by pioneers of the licensing and other industries with a history reaching back over 30 years.

About ShowProCo

ShowProCo, LLC, producers of the Sports Licensing & Entertainment Marketplace and the Tailgate-Picnic Show, is brought to you by the experienced trade show staff of Communications and Show Management, Inc. (CSM), who has owned and been producing trade shows for more than 35 years. Most importantly, CSM is dedicated to bringing in the buyers exhibitors most want to see. CSM's list of credits include Tennis Industry's National Buying Show and Fitness Industry Buying Show, and have managed The Super Show for 21 years.

Safe Harbor statement under the Private Securities Litigation Reform Act of 1995: Except for historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties, including but not limited to economic, competitive, governmental and technological factors affecting the company's operations, markets, products and prices and other factors discussed in the company's various filings with the Securities and Exchange Commission.

"I'll Pass Up Vacation to Gas Up My Truck"
BIGresearch Survey Reveals That Small Cars Are Hot, But Big Vehicle Owners Are Willing to Make Sacrifices to Keep on Trucking

According to BIGresearch's July Consumer Intentions and Actions Survey (CIA), when asked if small cars are hot, nearly 62% of over 9,000 respondents said "yes." The survey divided those respondents into categories based on the vehicle they currently own -- from cars and hybrids to trucks, SUVs, minivans and cross-overs (a cross between a car and an SUV) -- to see what role higher gas prices might play in the trend toward small car preference.

"It's clear, especially among truck owners, that people are willing to drive less, spend less and consider every option to equalize the impact of rising gas prices -- including buying a smaller car," said Gary Drenik, president and CEO of BIGresearch. "In fact, those who own trucks have deferred major purchases (35%), reduced dining out (55%) and decreased vacation and travel (58%) just to be able to fill their gas tanks."

The survey revealed that over 60% of truck owners are making fewer shopping trips, plus they are shopping closer to home, using coupons more often and doing more comparative shopping both online and with newspaper ads and circulars.

On the flip side, owners of cars and hybrids are not cutting back so drastically. When asked at what price per gallon gasoline would have to reach before they would change their driving habits, 44% said their driving habits would not change, regardless of price. In addition, 57% of car and hybrid owners said that fluctuating gas prices have had no major impact on their spending.

Highlighted Links

www,bigresearch.com

"The math is simple. When gas prices have gone up over 30% in the last year, a smaller car plus better mileage equals more spending money in the consumer's pocket," said Drenik. "That's why even the most devoted truck and SUV fans might be willing to buy a smaller car."

Of all the respondents to the survey who said they are planning on buying a new vehicle in the next 6 months, 75.9% of car owners said they would consider buying a car, 37.1% of truck owners, 30.6% of minivan owners and 47.3% of SUV owners.

Currently Own a.... Car Truck Mini-Van SUV

----- ----- ----- -----

Which type of vehicle are you considering?

Car 75.9% 37.1% 30.6% 47.3%

Truck 17.5% 36.1% 17.0% 10.7%

Mini-Van 6.6% 12.8% 50.9% 8.1%

SUV 17.4% 25.9% 18.1% 50.6%

Cross-Over (A cross between a SUV and a

Car) 7.2% 4.3% 15.7% 16.3%

Hybrid 7.9% 12.2% 12.5% 12.1%

*The sum of the % totals may be greater

than 100% because the respondents can

select more than one answer.

"If gas prices continue to soar, small cars could be the biggest thing going for the automotive industry," said Drenik. "However, if people continue to have to make sacrifices in order to drive, retailers, entertainment and other industries will have to work harder and market smarter to capture ever-shrinking consumer dollars."

To comment on this release visit the BIGresearch blog: http://whencustomerstalk.blogspot.com.

About BIGresearch

BIGresearch is a market intelligence firm providing analysis of consumer behavior in the areas of retail, politics, and media. The syndicated Consumer Intentions and Actions Survey (CIA) monitors the pulse of more than 7,000 consumers each month to identify opportunities in a fragmented and changing marketplace.

BIGresearch's methodology provides the most accurate consumer information in the industry with a margin of error of +/- 1 percent. Complimentary findings are available at www.bigresearch.com

Affluent Magazine Publishes Gadget Article by Brian Solis Covering Mvox's MV900 Wireless, Hands-Free Speakerphone

FutureWorks, Inc., an award-winning public relations agency, today announced that agency founder, Brian Solis, was published in the latest print edition of Affluent Magazine, The Authority on Lifestyle(SM). Solis' review of Mvox's MV900 is featured on page 52 in the July issue.

Solis discusses the market and current options for consumers searching for the latest wireless cell phone accessories. "People don't realize that they're compromising on noise and echo cancellation, voice quality, etc., because all they're concerned with is small and stylish form factors. Or, they're simply just ecstatic to finally have cut the cord from their old, cumbersome headsets. Truth is that they have no idea how annoying it is to be on the other end of the call."

The article wraps up with praise of the MV900. "The combination of the portability, small array mics, speaker loudness and clarity, DSP, voice command interface, and most importantly, echo and noise cancellation, make this unit a top choice when shopping for a hands-free device."

Affluent is the premier lifestyle newspaper for South Florida & beyond, where it is read by more than 164,000 high net worth individuals and company owners each month -- men and women who drive the nation's most dynamic communities -- who have hundreds of millions of dollars in personal purchasing power while their companies have billions to spend.

Manufacturers of consumer electronics and innovative products interested in a published review can contact Brian Solis at brian@future-works.com. Solis writes for Affluent Magazine as well as many other media outlets. For more information about Brian Solis, please visit his blog, PR2.0 at http://briansolis.blogspot.com.

About FutureWorks, Inc.

With offices in Silicon Valley and Orange County, FutureWorks partners with market leaders and emerging companies to increase their visibility and customer-pull, cultivate existing markets and create new opportunities that are necessary to expand business. The company's specialty lies in its ability to understand technology and to deliver real-world solutions to target audiences. Unlike traditional PR, FutureWorks has become an information aggregator, providing meaningful content to media, analysts and market influencers. FutureWorks can be reached at 408-428-0895 or on the Web at www.future-works.com.

Midwest Banc Holdings, Inc.

MELROSE PARK, IL -- (MARKET WIRE) -- July 20, 2006 -- In the news release, "Midwest Banc Holdings Announces Second Quarter 2006 Earnings Call," issued Tuesday, July 11, 2006, by Midwest Banc Holdings, Inc. (NASDAQ: MBHI), we are advised by the company that the first paragraph of the release should read "Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced that it will release second quarter 2006 earnings after the market closes on Tuesday, July 25, 2006 and conduct a conference call to discuss these results the following morning, July 26, 2006, at 11:00 A.M. EDT/10:00 A.M. CDT" rather than "Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced that it will release second quarter 2006 earnings after the market closes on Tuesday, July 25, 2006 and conduct a conference call to discuss these results the following morning, July 26, 2006, at 10:00 A.M. EDT/9:00 A.M. CDT" as originally issued. Complete corrected text follows.

Midwest Banc Holdings Announces Second Quarter 2006 Earnings Call

MELROSE PARK, IL -- 07/20/06 -- Midwest Banc Holdings, Inc. (NASDAQ: MBHI) announced that it will release second quarter 2006 earnings after the market closes on Tuesday, July 25, 2006 and conduct a conference call to discuss these results the following morning, July 26, 2006, at 11:00 A.M. EDT/10:00 A.M. CDT.

The webcast and call will be hosted by members of management. A brief discussion of quarterly results and trends will be followed by questions from professional investors and analysts invited to participate in the interactive portion of the discussion.

Interested parties wishing to participate in the interactive portion of the call can dial in at (877) 407-0778 or (201) 689-8565 for international calls. The live webcast can be accessed at www.midwestbanc.com and will be available for replay on that website through October 26, 2006. The audio replay may be accessed through August 2, 2006 at (877) 660-6853 or (201) 612-7415 for international calls, account number 286, conference ID number 208073.

Midwest Banc Holdings, Inc. provides a wide range of retail and commercial lending services, personal and corporate trust services, residential mortgage origination, and securities and insurance brokerage activities throughout the greater Chicago metropolitan area. The Company's principal operating subsidiaries are: Midwest Bank and Trust Company, Midwest Financial and Investment Services, Inc., Midwest Bank Insurance Services, LLC, and Royal American Investment Services, Inc.