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Tuesday, November 08, 2005

Denver Rocky Mountain News



Spy-satellite operator DigitalGlobe Inc. named a seasoned tech executive as its new CEO, replacing seven-year veteran Herb Satterlee.

Jill Smith comes to Longmont-based DigitalGlobe from the CEO post at Gomez Inc., a Waltham, Mass., firm that tracks Web-site performance.

Her appointment comes amid speculation that DigitalGlobe may be positioning itself for an initial public offering down the road.

According to a news release, Satterlee will stay on as chairman at DigitalGlobe, overseeing the company's dealings with government customers.

DigitalGlobe executives weren't available to comment.

Analyst Edward Jurkevics of Chesapeake Analytics in Arlington, Va., called the management changes positive, saying privately held DigitalGlobe was moving from an entrepreneurial startup to an established business.

"Now it's time to bring in professional management," -Jurkevics said of Smith. "She's going to run a tight ship and focus on execution."

After two initial launch failures, DigitalGlobe has deployed one high-resolution satellite.

It also landed a make-or- break, $500 million Pentagon contract two years ago that will allow it to deploy a next- generation imaging satellite.

And the company has announced plans to launch a third satellite by 2008.

Although it has relied on government customers, the company is angling to boost its commercial business.

Smith has held executive posts at a variety of companies, including the CEO job at software maker eDial.

According to the DigitalGlobe news release, Smith is credited with repositioning the company before it was sold to the Paris-based broadband equipment company Alcatel.

Copyright © 2005, Denver Publishing Co.

After enduring a number of major hurricanes, many Floridians are operating new generators for the first time and there have been some tragic situations resulting from improper use. As your anchors or reporters go about covering the damage left behind by the storm, please remind viewers, listeners or readers of the following...

FPL urges you to check the manufacturer's recommendations on your portable generator and follow them for proper use and load. Appliances should be plugged directly into a portable generator, using extension cords if necessary. For your safety, run portable generators outside the house so the generator gets proper ventilation. If you have any doubts, consult a licensed electrician. Only a licensed electrician should attempt to hook up a generator to the main electrical panel or a home or business. If you improperly connect to a main panel, power can "back feed" from the generator, including RV generators, into utility lines and damage property or injure a neighbor or utility crews working to restore power.

Not sure how many appliances you can connect and run from your portable generator?

Again, consult the manufacturer's instructions. Each generator has a rated wattage, which provides a limit for how many appliances it will safely power. Add together the wattage of different appliances and do not exceed the manufacturer's total rated wattage for the generator.

FPL also advises customers without power to make sure that all appliances such as stoves, ovens, coffee pots, etc. are turned off so that when power is restored they don't become a safety hazard.

Note to Editors: High-resolution logos and executive head shots are available for download at http://www.fpl.com/news/contents/logos.shtml.

COPYRIGHT 2005 Business Wire

EAST BRUNSWICK, N.J. -- Savient Pharmaceuticals, Inc. (NASDAQ: SVNTE), an emerging specialty pharmaceuticals company focused on developing, manufacturing and marketing novel therapeutic products for unmet medical needs, announced today that the Nasdaq Listing Qualifications Panel (the "Panel") has agreed to continue the listing of the Company's securities on The Nasdaq National Market provided that the Company files its restated financials for the appropriate periods and Quarterly Report on Form 10-Q for the period ending June 30, 2005 by no later than December 26, 2005. Additionally, the Panel has granted the Company an extension to file its Quarterly Report on Form 10-Q for the period ending September 30, 2005 by no later than January 3, 2006.

As previously reported, the Company's Audit Committee, with the assistance of management, counsel and independent accounting consultants, and as discussed with its independent auditors, has determined that the periods affected by an error in recording the Company's reserve for product returns and inventory include the six months ended June 30, 2005 and the fiscal years ended 2004, 2003 and 2002.

Savient announced on August 19, 2005 that it had received a Nasdaq Staff Determination Letter stating that it was not in compliance with Nasdaq Marketplace Rule 4310(c)(14) because the Company did not timely file its Quarterly Report on Form 10-Q for the period ended June 30, 2005, and that the Company's common stock was, therefore, subject to delisting from The Nasdaq Stock Market.

The Company is in the process of preparing restated financial statements for the fiscal years ended December 31, 2002, 2003 and 2004, and the quarter ended March 31, 2005, as well as its Quarterly Report on Form 10-Q for the three months ended June 30, 2005. It will then need to allow adequate time for its independent auditors to review such financial statements and periodic reports prior to their filing with the Securities and Exchange Commission.

About Savient Pharmaceuticals, Inc.

Based in East Brunswick, New Jersey, Savient Pharmaceuticals, Inc. is a specialty pharmaceutical company dedicated to developing, manufacturing and marketing novel therapeutic products that address unmet medical needs. The Company's lead product development candidate, Puricase(R), for the treatment of refractory gout has reported positive Phase 1 and 2 clinical data. Savient's experienced management team is committed to advancing its pipeline and expanding its product portfolio by in-licensing late stage compounds and exploring co-promotion and co-development opportunities that fit the Company's expertise in specialty pharmaceuticals and initial focus in rheumatology. The Company's operations also include a wholly-owned U.K. subsidiary, Rosemont Pharmaceuticals Ltd., which develops, manufactures and markets liquid formulations of prescription pharmaceutical products. Rosemont's product portfolio includes over 90 liquid formulations primarily targeting the geriatric population. Further information on the Company can be accessed by visiting www.savientpharma.com.

Safe Harbor Statement

This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical facts, included in this report regarding the Company's strategy, expected future financial position, discovery and development of products, strategic alliances, competitive position, plans and objectives of management are forward-looking statements. Words such as "anticipate," "believe," "estimate," "expect," "intend," "plan," "will" and other similar expressions help identify forward-looking statements, although not all forward-looking statements contain these identifying words. In particular, statements as to the possible continued listing of the Company's common stock on The Nasdaq Stock Market, the timing of the filing of the Company's June 30, 2005 Form 10-Q, and the timing of the filing of amendments to any prior filings are forward-looking statements. These forward-looking statements involve substantial risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company's business and the biopharmaceutical and specialty pharmaceutical industries in which the Company operates. Such risks and uncertainties include, but are not limited to, delisting of the Company's common stock from The Nasdaq Stock Market, delay or failure in developing Prosaptide(TM), Puricase(R) and other product candidates; difficulties of expanding the Company's product portfolio through in-licensing; introduction of generic competition for Oxandrin(R); fluctuations in buying patterns of wholesalers; potential future returns of Oxandrin or other products; our continuing to incur substantial net losses for the foreseeable future; difficulties in obtaining financing; potential development of alternative technologies or more effective products by competitors; reliance on third-parties to manufacture, market and distribute many of the Company's products; economic, political and other risks associated with foreign operations; risks of maintaining protection for the Company's intellectual property; risks of an adverse determination in on-going or future intellectual property litigation; and risks associated with stringent government regulation of the biopharmaceutical and specialty pharmaceutical industries. The Company may not actually achieve the plans, intentions or expectations disclosed in its forward-looking statements, and you should not place undue reliance on the Company's forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in the forward-looking statements that the Company makes. The Company's forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments that the Company may make. The Company does not assume any obligation to update any forward-looking statements.

COPYRIGHT 2005 Business Wire

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