latest news releases from the newsroom
American Skandia -- Market Timing
STOCKHOLM, Sweden, Oct. 26, 2004 (PRIMEZONE) -- Skandia: Financial institutions in the United States have come under the scrutiny of the U.S. Securities and Exchange Commission, the New York Attorney General's Office and certain other U.S. regulators in connection with certain practices involving mutual funds and variable annuity contracts. Specifically, several U.S. mutual fund companies and insurance companies have been accused of allowing, among other things, frequent trading, or "market timing", in mutual funds and variable annuity contracts, which may be harmful to the interests of other investors.
Actelion Announces 9-Month Results for 2004
ALLSCHWIL, Switzerland, Oct. 26, 2004 (PRIMEZONE) -- Actelion Ltd. (SWX:ATLN) today announced its financial result for the first nine months of 2004. With total net revenues for the first nine months of 2004 of CHF 341.5 million (9 m 2003: CHF 209.1 m) and operating expenses of CHF 277.6 million (9 m 2003: 181.1 m), the company reported an operating profit of CHF 63.9 million (9 m 2003: CHF 28.0 m). The net profit for the first nine months of 2004 was CHF 64.2 million (9 m 2003: CHF 23.1 m).
Emerson Poynter LLP
Emerson Poynter LLP Files Retirement Plan Class Action Lawsuit Against Marsh & McLennan -- MMC
HOUSTON, Oct. 25, 2004 (PRIMEZONE) -- Emerson Poynter LLP, a national law firm with offices in Houston, Little Rock, and Seattle, filed a lawsuit pursuant to the Employee Retirement Income Security Act of 1974 ("ERISA") today, October 25, 2004. This action was filed in the United States District Court for the Southern District of New York, in the case styled, Laura Jordan, On Behalf of Herself and All Other persons Similarly Situated vs. Marsh & McLennan Companies, Inc., Patricia A. Agrello, and Benefits Administration Committee, Civil Action No. 04-CV-8409. This action was filed as a class action on behalf of all present and former participants of the Marsh & McLennan Companies, Inc.'s Stock Investment Plan that is subject to ERISA and that purchased or held, or permitted Plan participants to purchase or hold through such plan, equity, or debt securities issued by Marsh & McLennan Companies, Inc. ("Marsh" or the "Company") (NYSE:MMC), or any other subsidiary, including but not limited to, Marsh, Inc. or Putnam Investments, during the period October 15, 2000 through October 14, 2004, inclusive, and who suffered losses as a result of the breaches of fiduciary duty or any other violations of ERISA as alleged by plaintiff.
CDMA Development Group
CDMA Industry Supports Allocation Of 1900 MHz In India
COSTA MESA, Calif., Oct. 26, 2004 (PRIMEZONE) -- The CDMA Development Group (CDG) (www.cdg.org) and leading CDMA operators in India are urging the Telecom Regulatory Authority of India (TRAI) to make the 1900 MHz band available for the deployment of CDMA2000(r) systems in India, emphasizing that CDMA operators need the spectrum to continue to participate in the development of wireless services in the country. Consequent to the issue of Universal Access License one year ago, which allowed CDMA and other technologies to enter the mobile market, wireless services have grown 160 percent to reach 40 million users. The competition has driven tariffs to one of the lowest rates in the world, putting phones in the hands of millions who previously could not afford it. This phenomenal growth will continue and, along with China, India will become one of the largest wireless markets in the world. CDMA operators in India do not have enough spectrum to support future growth, and have requested the 1900 MHz band to deploy IMT-2000 services. This allocation is consistent with International Telecommunication Union (ITU) recommendations and will not inhibit other IMT-2000 technologies to be deployed in India.
GSB Financial Services, Inc.
GSB Financial Services, Inc. Prepares for Christmas Orders
WILMINGTON, Del., Oct. 25, 2004 (PRIMEZONE) -- GSB Financial Services, Inc. (Pink Sheets:GSBF) previously announced on October 15th 2004 the Company is aggressively pursuing the Electric Vehicle market through GTT Products (www.gttproducts.com), a company specializing in mass distribution of products from China. This includes electric bikes, golf carts, electric vehicles, electric scooters and the necessary battery technology for these vehicles.
Torbay Holdings Inc.
Torbay Holdings Inc.: GSA Section 508 States that Computer Mice are Not Electronic or Information Technology
MINEOLA, N.Y., Oct. 25, 2004 (PRIMEZONE) -- Torbay Holdings, Inc. (OTCBB:TRBY) announced today that the Section 508 Group of the U.S. General Services Administration ("GSA") had recently removed Torbay's mouse products from a list of products that fall under the accessibility technology standards promulgated by the GSA to implement Section 508 of the Rehabilitation Act. The standards define the types of technology covered and set forth provisions that establish a minimum level of accessibility. Torbay's mouse products have been listed on a Section 508 website (www.section508.gov) since April 2003.
Port of Houston Authority
PHA Commission Delivers Bayport, Environmental, Financial Matters
HOUSTON, Oct. 25, 2004 (PRIMEZONE) -- The Port of Houston Authority (PHA) commission approved several recommendations involving contract awards, bids and proposals, professional services and general administrative and operational matters during its public meeting on Monday, October 25, 2004. Chairman Jim Edmonds and Vice Chairman Kase Lawal presided over the meeting attended by Commissioner Steve Phelps, Commissioner Jim Fonteno, Commissioner Jimmy Burke, Commissioner Cheryl Thompson-Draper, and Commissioner Janiece Longoria.
Entertainment Games, Inc.
eGAMES Announces "Pennies Count Too!" Kickoff Event
LANGHORNE, Pa., Oct. 25, 2004 (PRIMEZONE) -- eGames, Inc. (OTCBB:EGAM), a publisher of Family Friendly(tm), affordable consumer entertainment PC software games, today announced the first "Kickoff" event of the eGames "Pennies Count Too!" fund. eGames formally kicked-off its Pennies Count Too! Program by participating in the 'America's Walk for Diabetes' event sponsored by The American Diabetes Association at Tyler State Park near Newtown, Pennsylvania in Bucks County. Jerry Klein, President and CEO of eGames, said, "The American Diabetes Association estimated that more than 100,000 people in 245 cities across America participated in the America's Walk for Diabetes events and we found it a fitting event to kick-off our Pennies Count Too! campaign."