PhotoChannelbelieves this Titus Andronicus will continue during 2009

PhotoChannelbelieves this updates andronicus titus will continue titus sparknotes unravels during 2009 as retailers seek to maintain andincrease their market share. The marketplace, where PhotoChannel providesone of the dominant online solutions for photofinishers, continues toaccelerate rapidly. Unique features of the new PNI Digital MediaPlatform, including seamless up-sell options to higher margin items,provides retailers with opportunities to expand their servicecapabilities to their consumers Titus Andronicus – titusandronicus Titus Andronicus tickets .”During fiscal 2008 a significant investment was made in developing ourinfrastructure and staffing,” said Kyle Hall “We will leverage thesepast expenditures during fiscal 2009. We are intently focused onexecution, and are poised to deliver an unprecedented level of service toour retail partners, while in turn offering the best photo optionsavailable to consumers.”FISCAL 2008 FINANCIAL RESULTSDescription 2008 2007 Change % Change ————————————————–Transaction fees $11,635,172$ 4,823,523$ 6,811,649141%Installation fees3,933,4131,362,4522,570,961189%Membership fees802,105866,082(63,977)(7)%Professional fees467,996399,261 68,735 17%Archive fees 210,901 60,010150,891251% ————————————————–Total$17,049,587$ 7,511,328$ 9,538,259127% ————————————————– ————————————————–Consistent with the Company’s long-term goal of moving to atransactional fee based model, revenue from transactions represented 68%of total revenue during 2008 compared with 64% in 2007 Titus Andronicus – myspace .

Organic growth ofrevenue is expected to continue as the Internet is increasingly adoptedby consumers as a means to print images and gifting products.The Company’s overall increase in revenues was primarily attributable tothree factors:- New customer additions during fiscal 2008;- Full year of Pixology revenues subsequent to the July 2, 2007acquisition; and- Organic growth in usage of the PhotoChannel Network from customers ofour photo-finishing retailers, as retailers push the convenience of onehour printing from online through continued marketing efforts.Net loss for 2008 increased to $8,717,026 compared to $6,072,236 in 2007 Titus Andronicus tickets – wikipedia .Major contributors to this increased loss are as follows:- An increase in amortization over fiscal 2007 of $4,035,599, $2,640,724of which arose as a result of intangible assets related to theacquisition of Pixology with the remainder of the increase as a result ofsetting up a new data facility in Toronto and purchasing more hardwareand software for new and existing retail customers.- $770,000 of hosting costs related to the new Toronto data facility- $1,664,208 related to new software development staff to grow and managenew and existing customers- Increased non-cash expenses associated with the Company’s stock basedcompensation plan of $712,000- $1,086,577 taken as a goodwill write down related to Pixology, due tonegative change in estimated future cash flows- Change in foreign exchange losses (loss in 2007 versus gain in 2008)resulting in a net year on year gain of $2,179,205 incurred as a resultof holding an inter company account in UK poundsAbout PhotoChannel – Founded in 1995, PhotoChannel operates PNI DigitalMedia to provide services for major retailers, wireless carriers andcontent providers daughter of titus andronicus . The PNI Digital Media Platform connects consumerordered digital content with retailers that have on-demand manufacturingcapabilities for the production of merchandise titus . PNI Digital Mediagenerates transactions for retailers and their thousands of locationsworldwide.For more information please visit Networks Inc.Consolidated Statements of Loss and Comprehensive Loss(Expressed in Canadian dollars) 2008 2007 2006———————————Revenue (note 12) $17,049,587$ 7,511,328$ 4,075,151Expenses Network delivery 7,409,5252,523,1741,800,882 Software development 6,914,2914,178,1112,299,859 General and administration 4,603,4503,199,7271,462,664 Sales and marketing1,140,0281,134,350738,013 Amortization 5,259,0531,223,454402,600——————————— 25,326,347 12,258,8166,704,018Net loss from operations before the undernoted(8,276,760)(4,747,488)(2,628,867)Foreign exchange gain (loss)461,041 (1,718,164) (26,796)Interest income 134,848393,416 23,362(Loss) on disposal of property, plant & equipment(35,698) –Gain on settlement of asset retirement obligation (note 9)86,120–Goodwill impairment (note 7) (1,086,577) ———————————– (440,266)(1,324,748)(3,434)———————————Net loss (8,717,026)(6,072,236)(2,632,301)Other comprehensive loss:Unrealized foreign exchange loss on translation of self-sustaining foreign operations(346,964)(809,569) ———————————-Comprehensive loss$(9,063,990) $(6,881,805) $(2,632,301)——————————————————————Basic and fully diluted net loss per share$ (0.26)$ (0.20) $ (0.12)Weighted average number of common shares outstanding33,383,866 29,877,739 22,804,712PhotoChannel Networks Inc.Consolidated Balance Sheets(Expressed in Canadian dollars) September 30, 2008 September 30, 2007 —————— ——————AssetsCurrent assets Cash and cash equivalents $2,670,988 $7,405,034 Accounts receivable (note 4) 4,019,2864,045,035 Prepaid expenses and othercurrent assets430,616523,356 —————————————7,120,890 11,973,425Property and equipment (note 5) 6,786,6502,760,545Deferred expenses52,882 89,804Intangible assets (note 6)5,164,4926,067,614Goodwill (note 7) 1,498,5394,867,231 ————————————— $ 20,623,453 $ 25,758,619 ————————————— —————————————LiabilitiesCurrent liabilities Accounts payable and accruedliabilities (note $7,480,801 $7,510,751 Current portion of deferredrevenue 658,045344,833 Current portion of capital leaseobligations (note 14) 490,072- Loan payable (note 15) 969,886- —————————————9,598,8047,855,584Deferred revenue363,108171,210Long-term portion of capital lease obligations (note 14)375,875-Asset retirement obligations (note 9)22,009120,699 ————————————— 10,359,7968,147,493 —————————————Shareholders’ Equity (note 11)Share capital$ 65,614,347 $ 65,293,214Warrants4,961,8264,961,826Contributed surplus11,611,165 10,215,777 ————————————— 82,187,338 80,470,817 —————————————Deficit (70,767,148) (62,050,122)Accumulated other comprehensive loss(1,156,533)(809,569) —————————————(71,923,681) (62,859,691) 10,263,657 17,611,126 ————————————— $ 20,623,453 $ 25,758,619 ————————————— —————————————————————————————————————–Non-GAAP Adjusted EBITDA Reconciliation (1)20082007For the year ended September 30$ $————————————————————————–Net loss(8,717,026) (6,072,236) Add back:Amortization 5,259,053 1,511,504Stock-based compensation 1,223,454 799,750Goodwill impairment1,086,577————————————————————————–Non-GAAP Adjusted EBITDA(859,892) (4,049,032)————————————————————————–(1) Adjusted EBITDA is a non-GAAP measure and is defined as net loss,excluding amortization, stock based compensation expense associated withstock option grants and goodwill impairment.CaveatThe statements that are not historical facts contained in thisrelease are forward-looking statements that involve risks anduncertainties titus andronikus . PhotoChannel’s actual results could differ materially forthose expressed or implied by such forward-looking statements titus adronicus . Factorsthat could cause or contribute to such differences include, but are notlimited to, changes in technology, employee retention, inability todeliver on contracts, failure of customers to continue marketing theonline solution, competition, general economic conditions, foreignexchange and other risks detailed in the Company’s annual report andother filings.Additional information related to the Company can be found on SEDAR at and on the SEC’S website at PhotoChannel relies upon litigation protection for”forward-looking” statements.The TSX Venture Exchange has neitherapproved nor disapproved the information contained in this release.Contacts:PhotoChannel Networks Inc.Robert ChisholmCFO(604) 893-8955 ext.

224Email: PhotoChannel Networks Inc.Investor Information1-800-261-6796Website: 2009, Market Wire, All rights reserved.-0- julie taymor titus andronicus . Ashton Woods Announces Private Debt Exchange Offer and Consent SolicitationRelating to its 9.5% Senior Subordinated Notes due 2015 and Amendments to theExisting Senior Credit FacilityATLANTA, Jan 13 /PRNewswire/ — Ashton Woods USA L.L.C andronicus . (“Ashton Woods”)today announced the commencement of an offer to exchange any and all of its9.5% Senior Subordinated Notes due 2015 (the “Old Notes”) in a privateplacement for (i) new 11.0% senior subordinated notes due 2015 (the “NewNotes”) in an aggregate of up to $65.0 million principal amount guaranteed byAshton Woods’ existing and future restricted subsidiaries (the “Guarantees”)and (ii) a ratable share of Class B membership interests in Ashton Woods (the”Class B Interests”) representing, in the aggregate, up to 20% of theoutstanding membership interests in Ashton Woods (following the EquityInvestment, as described below).As of January 9, 2009, there was $125million aggregate principal amount of Old Notes outstanding.Concurrently with the exchange offer, Ashton Woods is also solicitingconsents from the holders of Old Notes (“Holders”) for certain amendments tothe indenture pursuant to which the Old Notes were issued (the “OldIndenture”)to eliminate or amend substantially all of the restrictive covenants, waivecertain defaults and modify certain of the events of default and various otherprovisions contained in the Old Indenture (collectively, the “ProposedAmendments”).In connection therewith, Ashton Woods is also asking Holders torelease and waive any and all claims they may have against Ashton Woods andits current equity holders, including claims that may have arisen from priornon-compliance by Ashton Woods with any of the terms of the Old Indenture(collectively with the Proposed Amendments, the “Amendment and Release”).Atender by any Holder in the exchange offer will also constitute an approval bysuch Holder of the Amendment and Release.In connection with the exchange offer, Holders representing 70.8% of theaggregate principal amount of Old Notes have agreed to tender their Old Notesin connection with the exchange offer.In addition, certain of Ashton Woodscurrent equity holders have agreed to invest $20 million of equitysimultaneously with the closing of the exchange offer (the “EquityInvestment”).Ashton Woods has also negotiated amendments to the existingSenior Credit Facility, which will cure existing defaults under the SeniorCredit Facility and provide the company with a replacement line of credit of$95 million shakespeare collection . Consummation of the amendment is conditioned upon closing of theexchange offer Titus Andronicus .The consummation of the exchange offer and consent solicitation isconditioned upon the satisfaction or waiver of the conditions set forth in theoffering memorandum and consent solicitation statement dated January 13, 2009(the “Offering Memorandum”).The exchange offer and consent solicitation willexpire at 5:00 p.m., New York City time, on February 11, 2009, unless extendedor earlier terminated (the “Expiration Date”).Holders must validly tenderand not validly withdraw their Old Notes on or before the Expiration Date,unless extended, to receive New Notes and Class B Interests.The exchange offer and consent solicitation are being made only to”qualified institutional buyers” (as defined in Rule 144A promulgated underthe Securities Act of 1933, as amended), “accredited investors” (as defined inthe Securities Act of 1933, as amended) and to persons that are not “U.S.Persons” in an “offshore transaction” (each as defined in Regulation Spromulgated under the Securities Act of 1933, as amended).Ashton Woods’ obligations to accept any Old Notes tendered and to pay theapplicable consideration for them are set forth solely in the OfferingMemorandum and the accompanying Letter of Transmittal.Documents relating tothe exchange offer and consent solicitation will only be distributed toeligible Holders of the Old Notes.This news release is neither an offer topurchase nor a solicitation of an offer to sell any securities, including theNew Notes or Class B Interests.The exchange offer and consent solicitationare made only by, and pursuant to the terms set forth in the OfferingMemorandum, and the information in this news release is qualified by referenceto the Offering Memorandum and the accompanying Letter of Transmittal.Thesecurities, including the New Notes and Class B Interests, have not been andwill not be registered under the Securities Act of 1933, as amended, may notbe offered or sold in the U S shakespeare . absent registration or an applicable exemptionfrom registration requirements, and will therefore be subject to substantialrestrictions on transfer.With headquarters in Atlanta, Georgia, Ashton Woods USA L.L.C. currentlyoperates in Atlanta, Dallas, Houston, Orlando, Phoenix, Denver and Tampa.SOURCEAshton Woods USA L.L.C.Jerry Patava, Interim Chief Financial Officer, Ashton Woods USA L.L.C.,+1-416-449-1340, or U.S.

Bank National Association, Information Agent,+1-800-934-6802 . ROCKVILLE, Md.–(Business Wire)–Washington Real Estate Investment Trust (WRIT) (NYSE:WRE) announced the incometax treatment of its 2008 dividend distributions This information representsfinal income allocations twelfth night shakespeare . Shareholders are encouraged to consult with theirpersonal tax advisors as to their specific tax treatment of WRIT dividenddistributions twelfth night . Common Share DividendsNYSE Ticker Symbol: WRE CUSIP #939653101 DividendGross Ordinary(Return ofUnrecap Sec.CapitalPaid Date DistributionTaxable Capital)1250 Gain Gain Per Share IncomeNon-Taxable Per Share Per SharePer Share Distribution Per Share 03/31/2008$0.4225 $0.2533 $0.0740 $0.0267 $0.068506/30/2008$0.4325 $0.2593 $0.0758 $0.0273 $0.070109/30/2008$0.4325 $0.2593 $0.0758 $0.0273 $0.070112/31/2008$0.4325 $0.2593 $0.0758 $0.0273 $0.0701TOTALS: $1.7200 $1.0312 $0.3014 $0.1086 $0.2788 100.00% 59.95 % 17.53 % 6.31% 16.21 %WRIT is a self-administered, self-managed, equity real estate investment trustinvesting in income-producing properties in the greater Washington metro region.WRIT’s dividends have increased every year for 38 consecutive years . WRIT owns adiversified portfolio of 93 properties consisting of 14 retail centers, 28office properties, 17 medical office properties, 22 industrial/flex properties,12 multi-family properties and land for development. WRIT shares are publiclytraded on the New York Stock Exchange (NYSE:WRE). Washington Real Estate Investment TrustSara GrootwassinkExecutive Vice President and Chief Financial Copyright Business Wire 2009.

We are under noobligation (and expressly disclaim any such obligation) to update or reviseany forward-looking statement that may be made from time to time, whether as aresult of new information, future developments or otherwise.SOURCEAllied World Assurance Company Holdings, LtdMedia, Faye Cook, AVP, Marketing & Communications, +1-441-278-5406,; or Investors, Keith J. The Company’s subsidiaries and VIEs areat various stages of progress depending on the requirements of the differentlocal tax authorities in recognition of qualification of the NEW/HIGHTechnology Enterprises preferred tax treatment pursuant to “Working Guidelinesfor Assessment of New/High Technology Enterprises” issued by the Chinese taxauthorities on July 8, 2008. 27 /PRNewswire-FirstCall/ — VeriFone Holdings, Inc.(NYSE: PAY), announced today it has won a $10 million contract with itsselection as a premier payment solutions supplier to Moneris Solutions,Canada’s largest processor of debit, credit and gift card payments.Moneris selected EMV- and PCI-approved wireless, countertop and integratedpayment solutions from VeriFone’s Vx Solutions family to meet the needs of itsmerchant customers. Desperate deeper league owners certainly can play him; just acknowledge the risks.Detroit vs. Among countries where resource nationalism may have recededis Venezuela, although Chevron would think carefully aboutinvesting more, given its current exposure there, he said.

2 seeds 11 times in the Elite Eight, and they have won only five (45 percent) of those games No 1 seeds have played No 3 seeds eight times, winning only four (50 percent). Under the agreement, ATA will haveexclusive rights to market, administer, and sell ETS’s line of TOEICworkplace English tests and products in China.”China’s role in the global economy is increasingly important, withChinese companies making significant progress in global businessdevelopment,” say Dr Philip Tabbiner, Senior Vice President of ETSGlobal. The Partnership funds growth capital fromundistributed cash from operations, cash available from distributionson non-cash exchangeable shares and, to the extent available,existing lines of credit Titus Andronicus .During the current year the Partnership’s cash provided by operationsdecreased by $1.7 million. He also led the team when it came to forced fumbles with four.Despite an 8-8 finish to the 2008 regular season, the Redskins had more in common with the Titan’s defense than most realize. * Broadcast mobile TV has disappointed so far: while 40 million users worldwidewatch mobile TV, this is only about 1% of mobile phone users. Pacific Time on March 18,2009 and 9:00 a.m.Beijing/Hong Kong Time on March 19, 2009).The dial-innumber for the call is 866-250-3615 for U.S.