PharmaNet Development Group Agrees to be Acquired by JLL Partners

JLL to Commence Tender Offer for All Shares of Common Stock At a Price of $5.00 per Share in Cash

PharmaNet Development Group, Inc. (the "Company" or "PharmaNet") (Nasdaq: PDGI), a leading provider of clinical development services, today announced that it has signed a definitive merger agreement ("Merger Agreement") with affiliates of JLL Partners, Inc. ("JLL"). Under the terms of the Merger Agreement, JLL will commence a tender offer to purchase all of the outstanding shares of PharmaNet at a price of $5.00 per share in cash, representing a significant premium to PharmaNet's average closing price for the past thirty days.

The transaction values the Company's common stock at approximately $100 million.

Environmental Tectonics Corporation Announces Receipt of Contract From United States Navy Valued at $19 Million

Environmental Tectonics Corporation (Amex: ETC) ("ETC" or the "Company") announced today that it has been awarded a contract by the United States Navy for a Disorientation Research Device. The contract, valued at over $19 million, was awarded to ETC following a competitive bid process. The device, ETC's GYROLAB GL-6000, will be manufactured at ETC's main manufacturing plant in Southampton, PA.

The contract calls for delivery by July 2011. It will be installed at the 711th Human Performance Wing at Wright Patterson AFB, OH. The GL-6000 will support research activities conducted by the Naval Aerospace Medical Research Laboratory (NAMRL).

inVentiv Health Reports Financial Results for Third Quarter 2008 

* Third Quarter Total Revenues Up 13% to $289.2mm; Net Revenues Up 14% to $243.4mm * Third Quarter Adjusted EPS of $0.41; GAAP EPS of $0.40 * Strong Cash Flow from Operations of $28.1 mm for the Quarter

inVentiv Health, Inc. (Nasdaq:VTIV), a leading provider of commercialization services to the global pharmaceutical and healthcare industries, today announced financial results for the third quarter 2008.

Tripos to Acquire Pharsight Corporation

 Tripos, a leading provider of drug discovery informatics products and services, and Pharsight Corporation (Nasdaq:PHST), a leading provider of software, strategic, and regulatory services designed to optimize clinical drug development, today announced they have entered into a definitive agreement for Pharsight to be acquired by Tripos for approximately $57 million in cash. Tripos is wholly owned by Vector Capital, a San Francisco-based private equity firm specializing in buyouts, spinouts and recapitalizations of established technology businesses. Under the terms of the agreement, Pharsight stockholders will receive $5.50 in cash for each outstanding share of common stock. This price represents a premium of 29% over the average closing price of Pharsight's common stock over the thirty trading day period ending on September 8, 2008, the last trading day before the date of this announcement.