HCC Medical Insurance Services, LLC (HCCMIS), a provider of travel accident insurance, announces an infographic highlighting the potential perils of vacationing in Asia. The infographic details the potential costs of common travel injuries such as twisting your leg while running to catch a flight, and less common accidents like being kicked in the face by a yak while hiking in the Mongolian Hills.

Asia serves as an excellent vacation destination for a mix of relaxation, cultural exploration and adventure. Travel hotspots in Asia include China, Mongolia, Nepal, Japan and the United Arab Emirates (UAE). Unfortunately, not every vacation can go off without a hitch. Sometimes tourists should expect the unexpected when traveling overseas with a group because even if one finds a good deal on a hotel, the cost of travel injuries can be substantial.

“It’s best to plan ahead, as you might end up spending tens of thousands of dollars when leaving the country without travel medical insurance,” said Mark Carney, CEO of HCCMIS. “Something as simple as a twisted ankle or broken foot in your group can be costly. Fortunately, Atlas Group, our group travel insurance product, offers coverage costing less than a dollar a day.”

This infographic was designed to remind consumers that travel injuries can inconvenience a planned vacation. For this reason, travelers must plan for the unexpected before departing.

More information about the paradise or peril travel injuries infographic, Atlas Group insurance or HCCMIS is available at http://www.hccmis.com.

About HCCMIS
HCC Medical Insurance Services, LLC (HCCMIS), headquartered in the United States in Indianapolis, Indiana, is a full-service company offering international medical insurance and short-term medical insurance products designed to meet needs of consumers worldwide. HCCMIS is a subsidiary of HCC Insurance Holdings, Inc. (NYSE: HCC), a leading Specialty Insurance group. HCC’s major companies have a financial strength rating of AA (Very Strong) by Standard & Poor’s and Fitch Ratings and A+ (Superior) by A.M. Best Company.

Contact:
Bryant Tutterow
AVP – Marketing
HCC Medical Insurance Services, LLC
(317) 221-8037
btutterow@hccmis.com

THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN ANNOUNCEMENT OF A FIRM INTENTION TO MAKE AN OFFER UNDER RULE 2.7 OF THE CITY CODE ON TAKEOVERS AND MERGERS. THERE CAN BE NO CERTAINTY THAT ANY OFFER WILL BE MADE NOR AS TO THE TERMS OF ANY OFFER

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

SS&C Technologies Holdings, Inc. (“SS&C”) notes the recent announcement by TPG of its recommended cash offer for GlobeOp. SS&C confirms that it has been conducting due diligence on GlobeOp with the approval of the Independent Directors of GlobeOp since 14 January 2012. SS&C continues to consider its options in respect of GlobeOp, including a possible cash offer for the Company and urges GlobeOp shareholders to take no action at this time.

There can be no certainty that an offer will be made by SS&C, nor, if made, that a transaction will result. A further announcement will be made at the appropriate time.

Notes to Editors:

About SS&C

SS&C is a global provider of investment and financial software-enabled services and software focused exclusively on the global financial services industry. Founded in 1986, SS&C has its headquarters in Windsor, Connecticut and offices around the world. More than 5,000 financial services organizations, from the world’s largest to local financial services organizations, manage and account for their investments using SS&C’s products and services. These clients in the aggregate manage over US$16 trillion in assets.

Additional information about SS&C (Nasdaq:SSNC) is available at www.ssctech.com.

The SS&C Technologies logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=8587

This announcement is not intended to, and does not, constitute or form part of any offer, invitation or the solicitation of an offer to purchase, otherwise acquire, subscribe for, sell or otherwise dispose of, any securities whether pursuant to this announcement or otherwise.

The distribution of this announcement in jurisdictions outside the United Kingdom and United States may be restricted by law and therefore persons into whose possession this announcement comes should inform themselves about, and observe, such restrictions. Any failure to comply with the restrictions may constitute a violation of the securities law of any such jurisdiction.

Disclosure requirements of the Takeover Code (the “Code”)

Under Rule 8.3(a) of the Code, any person who is interested in 1% or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the offer period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3.30 pm (London time) on the 10th business day following the commencement of the offer period and, if appropriate, by no later than 3.30 pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.

Under Rule 8.3(b) of the Code, any person who is, or becomes, interested in 1% or more of any class of relevant securities of the offeree company or of any paper offeror must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person’s interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3.30 pm (London time) on the business day following the date of the relevant dealing.

If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.

Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4).

Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Takeover Panel’s website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the offer period commenced and when any offeror was first identified. You should contact the Panel’s Market Surveillance Unit on +44 (0)20 7638 0129 if you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure.

Publication on Website

A copy of this announcement will be made available at www.ssctech.com. The content of the website referred to in this announcement is not incorporated into and does not form part of this announcement.

CONTACT: PRESS ENQUIRIES:
RLM Finsbury + 44 (0) 20 7251 3801 (switchboard)
Faeth Birch + 44 (0) 7768 943 171
Matthew Newton + 44 (0) 7909 545 503

The hall demand for new machines is favourable

The manufacturers supply system is back on track since the supply chain affected by the earthquake recovered earlier than expected. The hall demand for new machines was invigorated due to release of major titles from various manufacturers. Considering the market changes, the Company is strategically shifting to launch major pachinko and pachislot titles in Q4.

Will acquire and own 49% of shares in Mizuho Corp.

Agreed with Universal Entertainment Corporation (UEC) to embark on a joint venture via Mizuho Corp., a 100% owned UEC subsidiary and to explore potential joint businesses in a wide variety of entertainment fields.

Major pachinko and pachislot titles to be launched

As for Q4, regarding main pachinko and pachislot business, both pachinko and pachislot “Evangelion” series will be released and another major pachislot title will be launched in March 2012.

Group business is expected to make steady progress

The film “BERSERK”, produced by our subsidiary Lucent Pictures will be premiered in February 2012. The film “Ultraman Saga” from Tsuburaya Production will be premiered in March 2012.

Financial Results and
Forecast
(Consolidated) (Japan GAAP)

3.2012
(Unit: Billion yen) 3.2011 E YoY Q3 YTD
——————— —— —— —— —— —–
Net Sales 103.5 100.0 96.5% 43.0 43.0%
PS
(Pachinko/Pachislot
) 94.1 — — 38.0 —
Mobile 2.0 — — 1.5 —
Sports Entertainment 2.1 — — 1.4 —
Other 5.8 — — 2.9 —
(Adjustments) (0.6) — — (0.9) —

SG&A Expenses 21.9 24.0 109.1% 16.3 67.9%
——————— —— —— —— —— —–
Operating Income 13.1 14.0 106.6% 0.02 0.1%
PS
(Pachinko/Pachislot
) 12.8 — — 0.2 —
Mobile 0.2 — — 0.04 —
Sports Entertainment (0.2) — — (0.03) —
Other 0.3 — — (0.1) —

(Adjustments) 0.008 — — (0.03) —
——————— —— —— —— —— —–

Ordinary Income 13.6 14.0 102.3% 0.1 0.7%
——————— —— —— —— —— —–

Net Income 7.5 8.0 106.4% 1.1 13.8%
——————— —— —— —— —— —–
Total Asset 78.9 — — 61.8 —
Net Asset 47.0 — — 46.4 —

Net Income per share
(Yen) 22,643 — — 3,410 —
——————— —— —— —— —— —–
CF from Operating
Activities 8.0 — — 3.6 —
CF from Investing
Activities (4.3) — — (3.1) —
CF from Financing
Activities (3.9) — — (2.3) —

Cash and Cash
Equivalents 15.6 — — 13.8 —
——————— —— —— —— —— —–

2007 2008 2009 2010 2011
—————————— —– —– —– —– —–
ROE 9.2% 12.4% -3.5% 8.2% 17.1%

ROA 12.0% 17.3% 1.6% 11.6% 17.1%
—————————— —– —– —– —– —–
Shareholder’ Equity (Billion
yen) 41.1 44.4 39.4 41.0 46.7

Shareholder’ Equity ratio 62.2% 64.3% 75.8% 50.5% 59.2%
—————————— —– —– —– —– —–
Annual Dividend per share
(Yen) 4,000 4,500 4,500 4,500 5,000

Payout ratio 37.4% 29.5% — 45.9% 22.1%
—————————— —– —– —– —– —–
Operating Income (Billion yen) 8.9 13.1 1.9 8.1 13.1

Net Income (Billion yen) 3.7 5.2 -1.4 3.2 7.5
—————————— —– —– —– —– —–
Pachinko Machine Sold 345 273 202 330 262

Pachislot Machine Sold
(Thousand machine) 165 210 128 119 217
—————————— —– —– —– —– —–

About Fields

Fields Corporation and the Fields Group have a mission to provide “The Greatest Leisure for All People” in the form of products and services to meet the needs of a society with increasing leisure time. We are also identifying business opportunities through research, analysis and forecasting of lifestyle and environmental changes, and developing our business in a wide range of entertainment fields including the pachinko/pachislot field as well as video, mobile content, animation, publishing and sports.

CONTACT: Fields Corporation Corporate Communications Office
Our website: http://www.fields.biz/ir/e/
Tel.: +81-3-5784-2109 Mail: ir@fields.biz
Person in charge: Kotaro Karino

Smooth Integration Drives Margin to 2013 Goal Levels; Largest Single Phase Delivery Center Inaugurated in Bangalore

iGATE Corporation (iGATE or the Company) (Nasdaq:IGTE), the first integrated Technology and Operations (iTOPS) company providing Business Outcomes based solutions under the brand iGATE Patni, today announced its financial results for the fourth quarter and year ended December 31, 2011.

Fourth Quarter Highlights

— Revenues for fourth quarter 2011 were $267.7 million.

— Compared with $81.0 million in the fourth quarter 2010
— Compared with $265.7 million in the third quarter 2011

— Net Income for fourth quarter 2011 was $15.3 million.

— Compared with $14.7 million in the fourth quarter 2010
— Compared with $14.3 million in the third quarter 2011
— Interest expense impacted net income by $17.8 million in the fourth
quarter 2011

— Gross margin was 40.3 % for the fourth quarter 2011.

— Compared with 42.7% in the fourth quarter 2010
— Compared with 36.9 % in the third quarter 2011

— Diluted earnings per share for the fourth quarter 2011 were $0.11 GAAP;
$0.27 non-GAAP.

— Compared with $0.25 GAAP in fourth quarter 2010; $0.34 non-GAAP in
fourth quarter 2010
— Compared with $0.10 GAAP in third quarter 2011; $0.26 non-GAAP in third
quarter 2011

— Adjusted EBITDA was $68.1 million for the fourth quarter 2011.

— Compared with $23.4 million in the fourth quarter 2010
— Compared with $55.8 million in the third quarter 2011

— 16 new customers were added during the fourth quarter, including three
Fortune 1000 companies.

— Headcount was at 26,523 employees as of December 31, 2011.

Full Year Highlights

— Revenues for the year ended December 31, 2011 were $779.6 million.

— Compared with $280.6 million for the year ended December 31, 2010.

— Net Income for the year ended December 31, 2011 was $51.5 million.

— Compared with $51.8 million for the year ended December 31, 2010.
— Interest expense impacted net income by $50.6 million.

— Gross margin was 38.0% for the year ended December 31, 2011.

— Compared with 40.2 % for the year ended December 31, 2010.

— Diluted earnings per share were $0.38 GAAP; $0.90 non-GAAP.

— Compared with $0.89 GAAP; $1.08 non-GAAP in the corresponding period in
2010.

— Adjusted EBITDA was $173.5 million for the year ended December 31, 2011.

— Compared with $72.4 million for the year ended December 31, 2010.

Expansion

— iGATE Patni has invested $15 million into a new 260,000 sq. ft facility
in Bangalore. With a capacity of seating more than 2,500 people, this
building is the largest single phase delivery center equipped with state
of the art energy and green sustenance features.

— A large Capital outlay of $120 million has been approved to build a
residential training facility in Pune along with a 5000 member capacity
delivery center, campus expansion in Mumbai, and another extra phase in
Bangalore.

On the performance of the Company in 2011, Phaneesh Murthy, Chief Executive Officer, iGATE Patni, said, “Fiscal year 2011 was a milestone year for iGATE Patni, with the combined entity ending the year with revenue run rate in excess of $1 billion. I am particularly happy with the way our integration with Patni has been going smoothly and at an accelerated pace ensuring value protection to all stakeholders.”

On the outlook for 2012, Phaneesh Murthy said, “We are seeing that our differentiated outcomes-based business model is getting increased traction. I am also happy to report that it looks like almost all our top customers will be expanding work and programs with us.”

Sujit Sircar, Chief Financial Officer, iGATE Patni, said, “With the integration in place and benefits of a single combined entity beginning to take shape, we have made significant savings in terms of costs during the year, to the extent of approximately $32 million. The depreciation of the rupee also had a positive impact of approximately a 3% on the Company’s profitability in the fourth quarter. The rupee volatility is a concern in the longer run; however, in 2012 we will continue to sustain the benefits of our successful integration.”

Fourth Quarter and Fiscal Year 2011 Operating Results

Results for the fourth quarter and full fiscal year of both 2011 and 2010, on both GAAP and non-GAAP basis, are provided in the table below.

Q4 Q4
FY11 FY10 Y/Y FY11 FY10 Y/Y
—– —- —– —– —– —–

Net revenue ($Millions) 267.7 81.0 230% 779.6 280.6 178%
——————————— —– —- —– —– —– —–

Operating margin ($Millions) 51.5 15.4 234% 105.9 53.0 100%
——————————— —– —- —– —– —– —–

GAAP net income ($Millions) 15.3 14.7 4% 51.5 51.8 (1%)
——————————— —– —- —– —– —– —–

GAAP diluted EPS ($) 0.11 0.25 (56%) 0.38 0.90 (57%)
——————————— —– —- —– —– —– —–

Non-GAAP net income ($Millions) 20.1 19.9 (1%) 67.0 62.2 8%
——————————— —– —- —– —– —– —–

Non-GAAP diluted EPS ($) 0.27 0.34 (21%) 0.89 1.08 (18%)
——————————— —– —- —– —– —– —–

Key New Customers and Projects during the Fourth Quarter

— A North America-based Fortune 1000 communications company chose iGATE
Patni improving and providing a unified customer experience across its
business units while at the same time standardizing and optimizing
workforce management practices to achieve best in industry cost and
efficiency. iGATE Patni will leverage its experience in executive
dashboards and data analytics to provide an enterprise-wide view of its
customer service performance.
— A North America based financial services firm selected iGATE Patni to
redesign its dealer portal thus impacting customer satisfaction and
increase the ability to cross sell products. The firm’s current portal
has an Advisor Center that helps creation of new accounts, allows
Financial Advisors to manage their Client’s Portfolios and generate
different Reports. iGATE Patni will develop a new intuitive and self
service portal that will provide better user experience to Financial
Advisors, Broker dealers and Investment advisors along with faster
turnover on key functions.
— An Indian state-owned Fortune 1000 company that is in the oil and gas
sector chose iGATE Patni for its software development needs as the first
“Unique Identification Authority of India (UIDAI)” opportunity in India.
— A leading American Wealth Management firm chose iGATE Patni for a
Process Consulting engagement. As part of the engagement, iGATE Patni,
through a combination of Six Sigma and other proprietary methodologies,
will identify opportunities to reduce the operating expenses of the
client.
— One of the largest and most diversified groups in the Middle East region
operating in various sectors that includes Automobiles, Industrial
Trading, Media, Retail, engaged iGATE Patni in an enterprise cost
optimization initiative and provide Business Intelligence solutions
across the Gulf Conglomerate’s breadth of businesses. As part of the
deal, iGATE Patni will replace different bespoke systems that were
developed originally to meet the needs of individual organizations and
implement an Oracle ERP on a single platform.
— A North America-based Fortune 1000 company that conducts business in the
areas of diversified industrial manufacturing has signed a product
engineering deal with iGATE Patni pursuant to which the Company will be
responsible for developing a new generation of residential locks for the
client that will enable newer ways of ensuring security and safety to
households.
— A major operator of marine ports in the Middle East has chosen iGATE
Patni for its port function decentralization effort. The project
involves providing documentation on current architecture of the system
as well the proposed system design, to be followed for the
de-centralization.

Awards and Recognitions

— iGATE Corporation Wins “Golden Peacock” Global Award (Americas) for
Excellence in Corporate Governance
— iGATE Patni’s IT and Business Enabling functions in Bangalore were
successfully appraised and rated at People CMM(R) maturity level 5.
— Phaneesh Murthy received Enterprise Asia’s “Outstanding
Entrepreneurship” Award for 2011.
— iGATE Patni’s Employee Engagement initiative, “Thank God It’s Monday,”
entered the Limca Book of Records for running a corporate music show
every Monday for five consecutive years.

Conference Call and Webcast

The Company has scheduled its Earnings Conference Call on Wednesday, January 25, 2012 to discuss the results of its fourth quarter ended December 31, 2011. Senior management of the Company will discuss the Company’s financial performance for the quarter and answer participants’ questions during the call.

Time: 08:00-9:00 a.m. Eastern Standard Time / 05:00-06:00 a.m. Pacific Standard Time
Dial-in: 877-407-8037 (U.S.)
201-689-8037 (International)

The call will be webcast live on iGATE Patni’s website (www.igatepatni.com) and can be accessed by going to the Investor Relations page and selecting “Events.” Participants are requested to log in 10 minutes prior to the start of the webcast. The on-demand version of the webcast will be available on the Company’s website shortly after the call.

Investors, potential investors, shareholders and bond holders can access the telephonic replay by dialing 877-660-6853 (U.S.) or 201-612-7415 (international) and entering account number 293 and conference number 386227. The telephonic replay will be available until February 01, 2012.

About iGATE Patni

‘iGATE Patni’ is the common brand identity of two organizations — iGATE and Patni. With iGATE Corporation having acquired a majority stake in Patni Computer Systems Limited, the two companies, under the common brand iGATE Patni, provide full-spectrum consulting, technology and business process outsourcing, and product engineering services on a Business Outcomes-based model. Armed with over three decades of IT Services experience and powered by the iTOPS (Integrated Technology and Operations) platform, iGATE Patni’s multi-location global organization with a talent pool of over 26,000 people, consistently delivers effective solutions to over 360 Fortune 1000 clients spanning across verticals like: banking and financial services; insurance and healthcare; life sciences; manufacturing, retail, distribution and logistics; media, entertainment leisure and travel; communication, energy and utilities; public sector; and independent software vendors. Visit www.igatepatni.com.

iGATE Corporation is listed on NASDAQ (IGTE), and Patni Computer Systems Limited is listed on the Bombay Stock Exchange (532517), the National Stock Exchange of India (PATNI) and the New York Stock Exchange (PTI).

Use of non-GAAP Financial Measures

This press release contains non-GAAP financial measures as defined by the Securities and Exchange Commission. These non-GAAP measures are not in accordance with, or an alternative for measures prepared in accordance with, generally accepted accounting principles in the United States and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Reconciliations of these non-GAAP measures to their comparable GAAP measures are included in the attached financial tables.

iGATE believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with iGATE’s results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate iGATE’s results of operations in conjunction with the corresponding GAAP measures. These non-GAAP measures should be considered supplemental in nature and should not be considered in isolation or be construed as being more important than comparable GAAP measures.

iGATE believes that providing Adjusted EBITDA and non-GAAP net income and non-GAAP diluted earnings per share in addition to the related GAAP measures provides investors with greater transparency to the information used by iGATE’s management in its financial and operational decision-making. These non-GAAP measures are also used by management in connection with iGATE’s performance compensation programs.

More specifically, the non-GAAP financial measures contained herein exclude the following items:

— Amortization of intangible assets: Intangible assets comprise value of
customer relationships from the recent Patni acquisition and the
previous delisting of iGATE’s Indian subsidiary. iGATE incurs charges
relating to the amortization of these intangibles. These charges are
included in iGATE’s GAAP presentation of earnings from operations,
operating margin, net income and diluted earnings per share. iGATE
excludes these charges for purposes of calculating these non-GAAP
measures.

— Stock-based compensation: Although stock-based compensation is an
important aspect of the compensation of iGATE’s employees and
executives, determining the fair value of the stock-based instruments
involves a high degree of judgment and estimation and the expense
recorded may not reflect the actual value realized upon the future
exercise or termination of the related stock-based awards. Furthermore,
unlike cash compensation, the value of stock-based compensation is
determined using a complex formula that incorporates factors, such as
market volatility, that are beyond our control. Management believes it
is useful to exclude stock-based compensation in order to better
understand the long-term performance of our core business.

— Acquisition expenses: iGATE incurs costs related to its acquisitions,
which are inconsistent in amount and frequency and are significantly
impacted by the timing and nature of iGATE’s acquisitions. iGATE
believes that eliminating these expenses for purposes of calculating
these non-GAAP measures facilitates a more meaningful evaluation of
iGATE’s current operating performance and comparisons to its past
operating performance.

— Forex gain: The Company entered into forward foreign exchange contracts
to mitigate the risk of changes in foreign exchange rates on payments
related to the acquisition of Patni. We also recognized favorable
foreign currency gain on re-measurement of escrow account balance
maintained for facilitating payments related to Patni acquisition. iGATE
believes that eliminating the non-capitalized items for purposes of
calculating these non-GAAP measures facilitates a more meaningful
evaluation of iGATE’s current performance and comparisons to its past
performance.

— Severance Cost: As a result of the acquisition of Patni, iGATE incurred
severance costs in connection with the termination of the services of
some of Patni’s employees.

— Delisting expenses: iGATE is voluntarily delisting the equity shares of
its majority owned subsidiary, Patni from the National Stock Exchange of
India Limited and the Bombay Stock Exchange Limited and the American
Depository Shares from the New York Stock Exchange. Delisting is an
infrequent activity and expenses incurred in connection therein are
inconsistent in amount and are significantly impacted by the timing and
nature of the delisting. iGATE believes that eliminating these expenses
for purposes of calculating these non-GAAP measures facilitates a more
meaningful evaluation of iGATE’s current operating performance and
comparisons to its past operating performance.

>From time to time in the future, there may be other items that iGATE may exclude in presenting its financial results.

Forward-Looking Statements

Statements contained in this press release regarding the benefits of the Patni acquisition, the business outlook, the demand for the products and services, and all other statements in this release other than recitation of historical facts are forward-looking statements. Words such as “expect”, “potential”, “believes”, “anticipates”, “plans”, “intends” and similar expressions are intended to identify such forward-looking statements. Forward-looking statements in the press release include, without limitation, forecasts of market growth, future revenues, future expectations concerning growth of business, cost competitiveness and expansion of global reach following the acquisition, and other matters that involve known and unknown risks, uncertainties and other factors that may cause results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: difficulties encountered
in integrating business; whether certain market segments grow as anticipated; the competitive environment in the information technology services industry and competitive responses to our acquisition of Patni; and whether the companies can successfully provide services/products and the degree to which these gain market acceptance. Furthermore, in connection with the Patni acquisition, the Company has borrowed significant amounts, including through the issuance of high yield notes, and will have to use a significant portion of its cash flows to service such indebtedness, as a result of which the Company might not have sufficient funds to operate its businesses in the manner it intends or has operated in the past. Additional risks relating to the Company are set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2010, as well as the Company’s other reports filed with the Securities and Exchange Commission and risks related to the business of Patni as set forth in Patni’s Annual Report in Form 20-F for the fiscal year ended December 31, 2010. Actual results may differ materially from those contained in the forward-looking statements in this press release. Any forward-looking statements are based on information currently available to the Company and it assumes no obligation to update these statements as circumstances change. This document does not constitute an offer to purchase or to sell securities in any jurisdiction.

iGATE CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS
(Amounts in thousands, except per share data)

December
December 31, 31,
2011 2010

(unaudited) (audited)
———— ———-
ASSETS
Current assets:
Cash and cash equivalents $ 75,440 $ 67,924
Short-term investments 354,528 71,915
Accounts receivable, net 172,711 37,946
Unbilled revenues 45,223 13,893
Prepaid expenses and other
current assets 18,752 5,380
Foreign exchange derivative
contracts — 794
Deferred tax assets 20,574 5,422
Prepaid income taxes 8,341 —
Receivable from Mastech
Holdings Inc. 187 140
———— ———-
Total current assets 695,756 203,414

Investment in affiliate 584 —
Deposits and other assets 67,940 5,443
Property and equipment, net 175,672 52,950
Lease hold Land 53,917 —
Prepaid income taxes 18,481 —
Deferred tax assets 30,456 10,117
Goodwill 511,060 31,741

Intangible assets, net 160,706 1,378
———— ———-

Total assets $ 1,714,572 $ 305,043
============ ==========

LIABILITIES, PREFERRED STOCK AND
SHAREHOLDERS’ EQUITY
Current liabilities:
Accounts payable $ 7,857 $ 3,291
Accrued payroll and related
costs 71,913 19,709
Accrued income taxes 3,993 715
Line of credit 57,000 —
Other accrued liabilities 89,294 31,354
Foreign exchange derivative
contracts 1,669 —

Deferred revenue 21,631 667
———— ———-
Total current liabilities 253,357 55,736

Other long-term liabilities 4,610 1,251
Accrued income taxes 17,672 —
Foreign exchange derivative
contracts 6,739 —
Deferred tax liabilities 58,992 —

Senior Notes 770,000 —
———— ———-

Total liabilities 1,111,370 56,987
———— ———-

Series B Preferred stock,
without par value 349,023 —
———— ———-

Shareholders’ equity:

Common Stock, par value
$0.01 per share 577 572
Additional paid-in capital 201,281 188,389
Retained earnings 104,493 75,474
Common stock in treasury, at
cost (14,714) (14,714)
Accumulated other
comprehensive loss (257,920) (1,665)
———— ———-
Total iGATE Corporation
shareholders’ equity 33,717 248,056

Non controlling interest 220,462 —
———— ———-

Total shareholders’ equity 254,179 248,056
———— ———-
Total liabilities and
shareholders’ equity $ 1,714,572 $ 305,043
============ ==========

iGATE CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(Amounts in thousands)

Three Months ended Year ended,
December 31, December 31,
2011 2010 2011* 2010

(unaudited) (unaudited) (unaudited) (audited)
———– ———– ———– ———-

Revenues $ 267,707 $ 81,013 $ 779,646 $ 280,597

Cost of revenues (exclusive of
depreciation and amortization) 159,941 46,460 483,504 167,906
———– ———– ———– ———-

Gross margin 107,766 34,553 296,142 112,691

Selling, general and
administrative expense 42,582 16,765 151,497 50,669

Depreciation and amortization 13,703 2,415 38,735 9,014
———– ———– ———– ———-

Income from operations 51,481 15,373 105,910 53,008

Other (expenses) income, net (14,151) 1,917 (21,638) 4,686
———– ———– ———– ———-

Income before income taxes 37,330 17,290 84,272 57,694

Income tax expense 16,904 2,568 24,218 5,939
———– ———– ———– ———-

Net income before noncontrolling
interest 20,426 14,722 60,054 51,755

Noncontrolling interest 5,149 — 8,586 —
———– ———– ———– ———-

Net income attributable to iGATE
Corporation 15,277 14,722 51,468 51,755

Accretion to Preferred Stock 88 — 302 —

Preferred dividend 7,016 — 22,147 —
———– ———– ———– ———-
Net income attributable to iGATE
Corporation common shareholders $ 8,173 $ 14,722 $ 29,019 $ 51,755
=========== =========== =========== ==========

*Includes Patni revenues since
May 16, 2011.

iGATE CORPORATION
Earnings Per Share
(Amounts in thousands, except per share data)

Three Months Ended December 31 Year ended December 31
——————————————————————————————————————————–
PARTICULARS 2011 2010 2011** 2010

(unaudited) (unaudited) (unaudited) (audited)
——————————————————————————————————————————–

Net income attributable to iGATE
common shareholders $ 8,173 $ 14,722 $ 29,019 $ 51,755
Add: Dividends on Series B
Preferred Stock 7,016 — 22,147 –
————- ————- ————- ———–
15,189 14,722 51,166 51,755

Less: Dividends paid on
Common Stock [A] $ — $ 8,433 $ — $ 14,509
Unvested restricted stock [B] — 43 — 103
Participating preferred
stock [C] 7,016 7,016 — 8,476 22,147 22,147 — 14,612
—————————————————————————————-

Undistributed Income $ 8,173 $ 6,246 $ 29,019 $ 37,143
============= ============= ============= ===========

Allocation of Undistributed
Income
Common stock [D] 6,240 6,215 22,157 36,878
Unvested restricted stock [E] 24 31 84 265
Participating preferred
stock [F] 1,909 — 6,778 –
————- ————- ————- ———–

$ 8,173 $ 6,246 $ 29,019 $ 37,143
============= ============= ============= ===========

Shares outstanding for
allocation of undistributed
income:
Common stock 56,706 56,227 56,706 56,227
Unvested restricted stock 214 280 214 280
Participating preferred
stock 17,347 — 17,347 –
————- ————- ————- ———–

74,267 56,507 74,267 56,507
============= ============= ============= ===========

Weighted average shares
outstanding:
Common stock [G] 56,671 56,141 56,523 55,656
Unvested restricted stock [H] 213 294 217 399
Participating preferred
stock [I] 17,347 — 17,347 –
————- ————- ————- ———–

74,231 56,435 74,087 56,055
============= ============= ============= ===========

Weighted average common stock
outstanding 56,671 56,141 56,523 55,656
Dilutive effect of stock options
and restricted shares
outstanding 1,390 1,716 1,420 1,738
————- ————- ————- ———–
Dilutive weighted average shares
outstanding [J] 58,061 57,857 57,943 57,394
============= ============= ============= ===========

Distributed earnings per share:
Common stock [K=A/G] $ — $ 0.15 $ — $ 0.26
Unvested restricted stock [L=B/H] $ — $ 0.15 $ — $ 0.26
Participating preferred
stock [M=C/I] $ 0.40 $ — $ 1.28 $ –

Undistributed earnings per
share:
Common stock [N=D/G] $ 0.11 $ 0.11 $ 0.39 $ 0.66
Unvested restricted stock [O=E/H] $ 0.11 $ 0.11 $ 0.39 $ 0.66
Participating preferred
stock [P=F/I] $ 0.11 $ — $ 0.39 $ –

Basic earnings per share from
operations
Common Stock [K+N] $ 0.11 $ 0.26 $ 0.39 $ 0.92
Unvested restricted stock [L+O] $ 0.11 $ 0.26 $ 0.39 $ 0.92
Participating preferred
stock [M+P] $ 0.51 $ — $ 1.67 $ –

Diluted earnings per share from [[A+B+D+
operations E]/J] $ 0.11 $ 0.25 $ 0.38 $ 0.90

**Includes Patni balances since May 16, 2011

The number of outstanding participative convertible preferred stock for which the earnings per share exceeded the earnings per
share of common stock aggregated to 17.3 million shares for the three and twelve months ended Dec 31, 2011. These shares were
excluded from the computation of diluted earnings per share as they were anti-dilutive.

iGATE CORPORATION
Reconciliation of Net income, net of tax, to Adjusted EBITDA
(Amounts in thousands)
(Unaudited)
Three Months ended Year ended
December 31 December 31

2011 2010 2011* 2010
——— ——— ———- ———

Net income attributable to
iGATE Corporation $ 15,277 $ 14,722 $ 51,468 $ 51,755

Adjustments

Depreciation and amortization 13,703 2,415 38,735 9,014
Interest expenses 17,774 28 50,608 108
Income tax expense 16,904 2,568 24,218 5,939
Noncontrolling interest 5,149 — 8,586 —
Other income, net (7,393) (1,169) (15,894) (5,171)
Foreign exchange (gain)/loss 3,770 (776) (13,076) 377
Stock Based Compensation 1,869 1,829 10,737 6,651
Acquisition expenses — 3,749 10,914 3,749
Delisting expenses 997 — 997 —

Severance expenses — — 6,164 —
——— ——— ———- ———
Adjusted EBITDA (a non-GAAP
measure) $ 68,050 $ 23,366 $ 173,457 $ 72,422
========= ========= ========== =========

*Includes Patni Balances
since May 16, 2011
The company presents the non-GAAP financial measure adjusted EBITDA
because, management uses this measure to monitor
and evaluate the performance of the business and believes the presentation
of this measure will enhance the investors’ ability
to analyze trends in the business and evaluate the Company’s underlying
performance relative to other companies in the industry.

Non-GAAP Disclosure of Adjusted EBITDA

We present Adjusted EBITDA as a supplemental measure of our performance. We define Adjusted EBITDA as net income attributable to iGATE Corporation plus (i) depreciation and amortization, (ii) interest expense, (iii) income tax expense, minus (iv) other income, net plus (v) foreign exchange loss, (v) stock based compensation (vi) acquisition expenses (vii) severance expenses and (viii) delisting expenses. We eliminated the impact of the above as we do not consider them as indicative of our ongoing operating performance. These adjustments are itemized below. You are encouraged to evaluate these adjustments and the reasons we consider them appropriate for supplemental analysis. In evaluating Adjusted EBITDA, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation. Our presentation of Adjusted EBITDA should not be construed as an inference that our future results will be unaffected by unusual or non-recurring items.

We present Adjusted EBITDA because we believe it assists investors and analysts in comparing our performance across reporting periods on a consistent basis by excluding items that we do not believe are indicative of our core operating performance. In addition, we use Adjusted EBITDA: [(i) as a factor in evaluating management’s performance when determining incentive compensation, (ii) to evaluate the effectiveness of our business strategies and (iii) because our credit agreement and our indenture use measures similar to Adjusted EBITDA to measure our compliance with certain covenants.

Adjusted EBITDA has limitations as an analytical tool. Some of these limitations are:

— Adjusted EBITDA does not reflect our cash expenditures, or future
requirements, for capital expenditures or contractual commitments;
— Adjusted EBITDA does not reflect changes in, or cash requirements for,
our working capital needs;
— Adjusted EBITDA does not reflect the significant interest expense, or
the cash requirements necessary to service interest or principal
payments, on our debts; although depreciation and amortization are
non-cash charges, the assets being depreciated and amortized will often
have to be replaced in the future, and adjusted EBITDA does not reflect
any cash requirements for such replacements; non-cash compensation is
and will remain a key element of our overall long-term incentive
compensation package, although we exclude it as an expense when
evaluating our ongoing operating performance for a particular period;
Adjusted EBITDA does not reflect the impact of certain cash charges
resulting from matters we consider not to be indicative of our ongoing
operations; and other companies in our industry may calculate adjusted
EBITDA differently than we do, limiting its usefulness as a comparative
measure.

Because of these limitations, adjusted EBITDA should not be considered in isolation or as a substitute for performance measures calculated in accordance with GAAP. We compensate for these limitations by relying primarily on our GAAP results and using Adjusted EBITDA only supplementally.

iGATE CORPORATION
Reconciliation of Selected GAAP measures to Non-GAAP measures
(Amounts in thousands, except per share data)
(Unaudited)
Three Months ended Year ended,
December 31 December 31

2011 2010 2011** 2010
——— ——— ——— ———

Net income attributable to iGATE Corporation $ 15,277 $ 14,722 $ 51,468 $ 51,755

Adjustments

Amortization of Intangible assets, net of
taxes 2,551 197 6,191 774
Share Based Compensation, net of taxes 1,804 1,720 8,530 6,437
Acquisition expenses — 3,213 10,914 3,213
Delisting expenses 997 — 997 —
Forex gain on acquisition hedging and other
remeasurement, net of taxes (724) — (15,975) —

Severance cost, net of taxes 222 — 4,897 —
——— ——— ——— ———

Non-GAAP Net income $ 20,127 $ 19,852 $ 67,022 $ 62,179
========= ========= ========= =========

Basic earnings per share from operations
GAAP $ 0.11 $ 0.26 $ 0.39 $ 0.92
Non-GAAP $ 0.27 $ 0.35 $ 0.90 $ 1.11

Diluted earnings per share from operations
GAAP $ 0.11 $ 0.25 $ 0.38 $ 0.90
Non-GAAP $ 0.27 $ 0.34 $ 0.89 $ 1.08

Weighted average shares outstanding, Basic 74,231* 56,439 74,087* 56,055
========= ========= ========= =========
Weighted average dilutive common equivalent
shares outstanding 75,408* 57,857 75,290* 57,394
========= ========= ========= =========

*Includes assumed conversion of 17.3 million shares of Series B Preferred
Stock as of January 1, 2011.
**Includes Patni balances since May 16, 2011

CONTACT: Media Contact
Prabhanjan Deshpande “PD”
+91 80 4104 5006
PD@igatepatni.com

Investor Contact
Araceli Roiz
+1 510 896 3007

Uncertainty dampens outlook for 2012

But confidence in company revenue growth remains ahead of 2009

Nearly half (48%) of CEOs polled worldwide believe the global economy will decline even further in the next 12 months, according to PwC’s 15th Annual Global CEO Survey. Just 15% said the global economy will improve during 2012.

However, nearly three times as many CEOs are confident in their own companies’ growth prospects for the next 12 months than in the outlook for the global economy, suggesting CEOs believe they have learned how to manage through difficult and volatile economic times.

Forty per cent of CEOs said they are ‘very confident’ of revenue growth for their companies in the next 12 months, down from the 48% last year – though still up from the 31% who were ‘very confident’ in 2010.

In addition, more than half of CEOs worldwide expect to increase headcount in the next 12 months, although the picture changes from sector to sector with hiring much more likely in entertainment and media than elsewhere.

Unsurprisingly, the biggest decline in confidence was in Western Europe. Beset by the sovereign debt crisis, just a quarter of European CEOs said they were very confident of revenue growth, down sharply from nearly 40% last year. Short-term confidence also fell among CEOs in Asia Pacific, to 42% from 54% last year. China saw the biggest decline in confidence in the Asia Pacific region with 51% of CEOs feeling ‘very confident’, down from 72% last year.

There was also a marked decline in confidence in India with only 55% of Indian CEOs very confident of revenue growth, down from 88% last year. In the US, 41% of CEOs said they were very confident of short-term growth, down from 45% last year. Confidence increased, however, among CEOs in Africa, where 57% said they were expecting growth, up from 50% last year.

The survey results, based on interviews with 1,258 CEOs, were released at the World Economic Forum annual meeting in Davos.

Looking at what is worrying CEOs, 80% of CEOs had some concern about uncertain economic growth, 64% about instability in the capital markets, 66% about government responses to fiscal deficits and debt burden, 58% about exchange rate volatility, and 56% about over regulation. And, while 56% of CEOs said their company had been financially affected by the sovereign debt crisis in Europe; 45% said they had taken steps to respond.

“CEO confidence is decidedly down as they deal with the aftershocks to the recession. CEOs are disappointed with the course of the global economy and the pace of recovery. The optimism that had been building cautiously since 2008 has begun to recede,” said Dennis M. Nally, Chairman of PricewaterhouseCoopers International.

“The ongoing debt crisis in the European Union, along with other lingering economic uncertainties, has deflated confidence in business growth around the world. Even the fast growing economies of Asia and Latin America are not immune to the realities of continued economic stagnation, belying the notion that the global economy has decoupled. CEOs all around the world are concerned about the health of the global economy.

“The good news is that the long cycle of the slowdown has taught CEOs how to manage their businesses with ever greater efficiencies,” Mr. Nally added. “CEOs now say they are better prepared to deal with an economy defined by volatility in global markets, weak demand in developed economies, and uncertainty in the emerging markets. Many CEOs are confident they can deliver revenue growth despite the difficult conditions.”

Longer term, CEO confidence also declined; 46% said they were ‘very confident’ of growth prospects in the next three years, down five percentage points from last year. CEOs in Western Europe and Latin America were least confident of long-term growth, while 54% of North American CEOs were very confident of long-term growth.

Growth opportunities

According to the CEOs, the best strategic growth opportunities in the next 12 months will come from increasing share in existing markets and from developing new products and services, both cited by nearly one third of respondents. New market penetration, 18%, and joint ventures and alliances, 10%, trailed as growth strategies. The number of CEOs planning M&A activity remains relatively low with prospects for a recovery in the deals market still looking some way off.

The emerging markets remain a vital growth opportunity for CEOs. Overall, 59% agreed that growing markets were more important to their company’s future than more developed economies. And almost half of CEOs from developed nations said that emerging markets were the most important to their future. Top growth targets were the BRIC countries (Brazil, Russia, India and China), joined by the U.S. and Germany. In all, when asked to select the top three targets for growth, more than 60 different countries were named by CEOs.

The Talent Challenge

Finding and keeping the right talent remains a top concern for CEOs. Only 30% said they are ‘very confident’ they will have access to the talent needed to execute their company’s strategy, and 43% believe that it has become more difficult to hire workers in their industry. Recruiting and retaining high potential middle managers is the biggest talent challenge, CEOs said, followed by hiring skilled production employees and younger workers.

This challenge cuts across all industries, even those with different talent needs, such as industrial manufacturing and pharmaceuticals.

Despite the sluggish economy, businesses are gearing up to hire. More than half of CEOs said they have increased headcount in their organisation in the past 12 months and about the same percentage expect hiring momentum to continue. CEOs in Middle East/Africa and North America reported hiring increases in the past 12 months, while CEOs in Asia said they are most likely to add jobs in the coming year. Just 18% of CEOs said they expected to cut their workforce in the coming year, down from 23% who said they made cuts in the past 12 months.

“It’s ironic that as the economy struggles, shortages of key personnel are having an impact on the way companies do business,” Mr. Nally said. “CEOs say they are having difficulty finding and retaining skilled people in their industries and turnover in emerging markets is high. The problem is expected to become more acute as global demographic patterns change.”

A potential shortfall of talent was also cited by 53% of CEOs as a threat to growth. The availability of skills was seen as a top concern across all geographic regions outside of Europe. Other frequently cited threats to growth included potential tax increases, cited by 55%; changing consumer spending patterns and behaviours, 50%; energy costs, 46%; inability to finance growth, 40%; new market entrants, 38%; supply chain security, 34%; and inadequacy of basic infrastructure, 30%.

Notes to editor

Survey Methodology:

For PwC’s 15th Annual Global CEO Survey, 1,258 interviews were conducted in 60 countries in the last quarter of 2011. 291 interviews were conducted in Western Europe, 440 in Asia Pacific, 150 in Latin America, 236 in North America, 88 in Central and Eastern Europe, and 53 in the Middle East & Africa.

The full survey report with supporting graphics can be downloaded at www.pwc.com/ceosurvey.

PwC’s 15th Global CEO Survey was launched at a press conference in Davos on the eve of the World Economic Forum’s Annual Meeting. To download broadcast-quality clips from the press conference and other supporting footage, visit http://press.pwc.com. To watch the full webcast of the press conference, visit http://www.pwc.com/davoswebcast.

PwC firms help organisations and individuals create the value they’re looking for. We’re a network of firms in 158 countries with close to 169,000 people who are committed to delivering quality in assurance, tax and advisory services. Tell us what matters to you and find out more by visiting us at www.pwc.com.

“PwC” is the brand under which member firms of PricewaterhouseCoopers International Limited (PwCIL) operate and provide services. Together, these firms form the PwC network. Each firm in the network is a separate legal entity and does not act as agent of PwCIL or any other member firm. PwCIL does not provide any services to clients. PwCIL is not responsible or liable for the acts or omissions of any of its member firms nor can it control the exercise of their professional judgment or bind them in any way.

The PwC logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=2684

(C) 2012 PricewaterhouseCoopers. All rights reserved.

CONTACT: Mike Ascolese, PwC
Tel: +1 (646) 471 8106
e-mail: mike.ascolese@us.pwc.com

Mike Davies, PwC
Tel: +44 (0) 78 0397 4136 On site at Davos
e-mail: mike.davies@uk.pwc.com

www.pwc.com/ceosurvey

Rogers, An Internationally Known Speaker, Author and Commodity Expert, Will Provide His Outlook for Global Commodity Markets

INTL FCStone Inc. (Nasdaq:INTL) today announced that Jim Rogers, internationally known commodity expert and best-selling author, will be the keynote speaker for the 2012 Asia-Pacific Commodity Outlook Conference in Singapore, sponsored by CME Group. The Outlook Conference will cover the supply and demand outlook for key agricultural and soft commodities; base and precious metals; energy products including petroleum and crude oil; and raw materials.

Also scheduled to speak at the conference is Professor Roger Stone of the University of South Queensland, presenting his world weather outlook.

In addition, INTL FCStone’s commodity experts Bill Dwyer, Mike O’Dea, Jeff Rhodes, Greg Vincent, Tom Zabrodsky, Chris Thorpe, Fred Demler, Robert Chesler, Mar io Silveira, Mike Ortiz, Oscar Schaps, and Sagiv Shiv will present their outlooks for the global commodity markets.

The conference, to be held February 22 and 23 at Singapore’s Grand Hyatt Hotel, is intended for General, Finance, Operations, Purchasing and Sales executives anywhere in the commodity production chain, as well as for institutions that regard commodities as an asset class and are seeking insight that will help them make strategic decisions.

For the full agenda or to register for the conference, please visit http://www.intlfcstone.com/seminars/outlook/Pages/SingaporeOutlook.aspx or contact Erin Olson at erin.olson@intlfcstone.com.

About INTL FCStone Inc.

INTL FCStone Inc. provides execution and advisory services in commodities, currencies and international securities. INTL FCStone’s businesses, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world. Further information on INTL FCStone Inc. is available at www.intlfcstone.com.

About CME Group

As the world’s leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk, offering the widest range of global benchmark products across all major asset classes. We bring buyers and sellers together through our CME Globex(R) electronic trading platform and our trading facilities in New York and Chicago. CME Clearing, an industry-leading central counterparty clearing provider, offers clearing and settlement services for exchange-traded and over-the-counter derivatives.

Disclaimer

Futures trading is not suitable for all investors, and involves the risk of loss. The information in these workshops is taken from sources believed to be reliable. It is intended for information and education only and is not guaranteed by CME Group as to accuracy, completeness, nor any trading results. The views and opinions offered by individuals or their associated firms in these workshops are solely those of the authors, and do not necessarily represent the views of CME Group.

CME Group is a trademark of CME Group Inc. The Globe logo, CME, Chicago Mercantile Exchange, E-mini and Globex are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange Inc. COMEX is a trademark of Commodity Exchange Inc. All other trademarks are the property of their respective owners.

CONTACT: INTL FCStone Inc.
Kent Coughlin
615-234-2756
kent.coughlin@intlfcstone.com

Singapore Exchange Reports $65.4 Million Profit

— Revenue: $148.1 million ($172.2 million in 2Q FY2011)
— EBITDA: $89.3 million ($109.6 million) and Net Profit: $65.4 million
($74.2 million)
— Earnings per share: 6.1 cents (7.0 cents)
— Interim Dividend per share: 4.0 cents (4.0 cents)

All figures above are for the quarter except for figures in brackets which are for a year earlier unless otherwise stated

SGX recorded revenue of $148.1 million ($172.2 million), net profit of $65.4 million ($74.2 million) and earnings per share (EPS) of 6.1 cents (7.0 cents) in 2Q FY2012. This brings SGX’s net profit to $152.9 million for the six months ended 31 December 2011 (1H FY2012), 3% higher than last financial year’s $148.4 million. The Board of Directors has declared an interim dividend of 4.0 cents (4.0 cents) per share, payable on 14 February 2012.

Mr Magnus Bocker, SGX CEO, said, “SGX reported a net profit of $65.4 million in difficult market conditions following a decline in securities turnover. We continue to expand our products and services, including the start of the world’s first clearing of OTC Foreign Exchange Forwards. We also welcomed our first Catalist mineral, oil and gas listing. During the quarter, we effectively transferred customers’ positions and margins following the collapse of MF Global. This demonstrates the importance of a strong and capable clearing house. We remain cautious and focused on cost discipline amid global economic challenges.”

Business Highlights

Investor sentiment was affected by macroeconomic uncertainty and this led to lower securities trading volumes. Price volatility, on the other hand, led to increased risk management activities by existing and new customers in the derivatives market.

— Securities: Securities daily average trading value (SDAV) was $1.1
billion ($1.8 billion) and $1.4 billion ($1.7 billion) for 2Q and 1H
FY2012 respectively. We expanded the range of investment products for
customers by listing six new exchange-traded funds (ETFs) and adding 15
Depository Receipts to our GlobalQuote platform. To support our members
and educate retail customers, we conducted courses on the new
requirements for the trading of “Specified Investment Products”
effective 1 January 2012.

— Derivatives: Derivatives1 daily average trading volume (DAV) was up 11%
to 274,757 contracts (248,325 contracts) with market share of our key
contracts remaining steady. DAV for 1H FY2012 was 22% higher at 298,796
contracts (245,025 contracts). “After-hour trading” contributed 16%
(14%) of the overall volume this quarter. Chinese A50 futures DAV
doubled year-on-year to 16,959 contracts (7,851 contracts) and was 36%
higher quarter-on-quarter. Year-on-year DAV of Nikkei options rose 39%
to 10,202 contracts (7,318 contracts) and Rubber futures were up 24% to
1,118 contracts (898 contracts). The average monthly open interest of
derivatives grew 44% year-on-year to 1,346,544 contracts (932,475
contracts).

— OTC Derivatives: We started clearing over-the-counter (OTC) Asian
Foreign Exchange (FX) Forwards on 24 October 2011. This quarter, we
cleared a total notional value of $17.2 billion in Interest Rate Swaps,
leading to a cumulative value of $185.8 billion since the launch in
November 2010. We also cleared 56,885 lots (41,268 lots) of OTC
Commodities resulting in year-on-year growth of 38% while adding OTC
coal (CFR China) and naphtha swaps (CFR Japan) to our product suite in
December 2011.

— Membership: The total number of Securities and Derivatives Trading and
Clearing Memberships grew 10% year-on-year, from 124 to 136.

— Equity and Debt Listings: We had nine new listings2, including Lonza
Group (our first Swiss listing) and CMNC Goldmine (our first Catalist
mineral, oil and gas company). A total of $2.4 billion ($7.3 billion) of
equity funds was raised: $214.7 million ($4.9 billion) in IPO funds and
$2.2 billion ($2.3 billion) in secondary fund raising. In addition,
$19.0 billion was raised through 35 new bond issues ($41.6 billion and
69 new bond issues).

Market Development, Risk Management & Regulation

We continue to remain vigilant and monitor our risk exposures closely given the market volatility and uncertain conditions. Our robust risk management enabled us to handle the bankruptcy of MF Global swiftly without impacting customers’ ability to continue to manage their positions.

In addition, in the Securities Market, we continue to uphold the integrity of our market through the enforcement of our Listing Rules.

SGX hosted the Chief Regulatory Officers Conference for global market regulators, policy makers and self-regulated organisations to share their experiences on regulatory challenges and global regulatory trends on 1 and 2 December 2011. Valuable insights from the perspectives of Europe, US and the emerging markets were given.

We are working on the ASEAN Trading Link, under the auspices of the ASEAN Exchange collaboration, to collectively promote ASEAN as a highly investable asset class.

Outlook

Market activity will continue to be influenced by the global economic outlook. SGX’s investments and initiatives will be paced accordingly.

FINANCIAL PERFORMANCE

SGX’s revenue and EBITDA were $148.1 million ($172.2 million) and $89.3 million ($109.6 million), respectively. On the back of the net profit of $65.4 million ($74.2 million3), SGX’s EPS was 6.1 cents (7.0 cents).

For the six months ended 31 December 2011, SGX’s net profit was $152.9 million ($148.4 million3) with revenues of $326.5 million ($331.3 million) and EBITDA of $204.4 million ($209.3 million). The EPS was 14.3 cents (13.9 cents).

Revenues from Derivatives, Depository, Market Data and Member Services and Connectivity grew 7% to $80.3 million ($74.8 million) while Securities and Issuer Services revenues were 31% lower at $67.5 million ($97.4 million). For 1H FY2012, Derivatives, Depository, Market Data and Member Services and Connectivity revenues grew 17% to $170.7 million although Securities and Issuer Services revenues fell 16% to $155.2 million.

Expenses decreased by 4% to $68.9 million ($71.7 million). Staff expense was 9% lower at $25.5 million ($28.0 million) mainly due to the reduced variable compensation expense in line with lower profitability. This helped offset the increase in base staff costs. Headcount was 608 (584) on 31 December 2011.

Technology expenses were 2% lower at $26.3 million ($26.8 million).

Processing and royalties declined by 11% to $6.0 million ($6.7 million). The increase in royalties expense on higher derivatives volumes was offset by lower securities processing costs.

Cashflow generated from operations was lower by 6% to $77.2 million ($82.2 million). Capital expenditure amounted to $7.2 million ($23.6 million). Capital expenditure for FY2012 is expected to remain within the range of $40 to $45 million, as previously announced.

SGX’s total equity was $731.1 million ($720.9 million) on 31 December 2011. The unrestricted cash reserves were $486.7 million ($463.6 million), including the 2Q FY2012 interim dividend payable of $42.7 million ($42.7 million).

PERFORMANCE REVIEW

Securities Revenue, 36% (47%) of SGX’s revenue

Securities revenue declined by 34% to $53.2 million ($81.1 million) as the SDAV fell by 37% to $1.1 billion ($1.8 billion). The average clearing fees improved to 3.0 basis points (2.8 basis points).

Table below summarises the metrics of our Securities market:

—————————- ——- ——- ——

2Q FY12 2Q FY11 Change
—————————- ——- ——- ——
SDAV $1.1B $1.8B -37%
% of trades below $1.5M 58% 54% +4% pt

% of trades above $1.5M 42% 46% -4% pt
—————————- ——- ——- ——

Primary and secondary listed
market capitalisation
(quarter end) $775.8B $902.0B -14%
—————————- ——- ——- ——
% of total value traded
Singapore companies 56% 50% +6% pt

Overseas companies 44% 50% -6% pt
—————————- ——- ——- ——
Overall turnover velocity -16%
(primary listed only) 47% 63% pt
Singapore companies 39% 48% -9% pt

-26%
Overseas companies 73% 99% pt
—————————- ——- ——- ——

Derivatives, 25% (20%) of SGX’s revenue

Derivatives revenue grew 11% to $37.7 million ($33.9 million).

Derivatives volume was 8% higher at 16.8 million (15.6 million) contracts or DAV of 274,757 contracts (248,325 contracts) this quarter on heightened volatility of the underlying equity indices.

Futures & Options revenue dropped 3% to $24.6 million ($25.3 million) mainly due to higher volume rebates on newer contracts and foreign exchange hedging costs. Of note, our Indian Nifty futures, Chinese A50 futures and Japanese Nikkei225 options accounted for 30% of overall volumes, compared to 25% a year ago. The average yield per contract was $1.46 ($1.62).

Table below summarises the DAV and market share of key Asian Gateway equity contracts:

——————- —————————- ———————

DAV (contracts) Market Share (%)
——————- —————————- ———————

2Q 2Q Change 2Q 2Q Change
FY12 FY11 % FY12 FY11 % pt
——————- ———– ——- —— —— —- ——-
Nikkei225 futures 100,385 110,916 -9 28 28 —
MSCI Taiwan 65,895 56,209 +17 23 24 -1
Indian Nifty 58,479 47,794 +22 18 14 +4
MSCI Singapore 17,795 14,225 +25 NA NA NA
Chinese A50 16,959 7,851 +116 0.4 0.2 +0.2
Nikkei225 options 10,202 7,318 +39 3 2 +1

Others 5,042 4,012 +26 NA NA NA
——————- ———– ——- —— —— —- ——-

Total 274,757 248,325 +11
——————- ———– ——- ——

Algorithmic trading 35% 29% +6% pt
——————- ———– ——- ——

———- ————————

Volatility
———- —- ———- ——

2Q 2Q Change
FY12 FY11 % pt
———- —- ———- ——
Nikkei225
Index 18% 14% +4
TWSE
Taiwan
Index 26% 8% +18
Nifty
Index 25% 17% +8

MSCI
Singapore
Index 19% 11% +8
———- —- ———- ——

(Source: Bloomberg)

Structured warrants revenue was steady at $1.2 million ($1.2 million). The quarterly average daily trading value grew to $35.5 million ($24.2 million) and the proportion of trades above $400,000 was 57% (41%).

Interest income, license and other revenue was 62% higher at $12.0 million ($7.4 million) mainly driven by: (i) higher collaterals held of $5.2 billion ($3.3 billion) given increased open interest positions and better management of collateral balances (ii) higher royalty fees collected from increased DAV; and (iii) revenue from OTC Clearing.

In 2Q FY2012, we cleared 56,885 lots (41,268 lots) of OTC Commodities and $17.2 billion ($4.8 billion) in notional value of OTC Financial Derivatives. Iron ore swaps clearing volume grew more than four times to 35,138 lots (7,893 lots) and was 46% higher quarter-on-quarter.

Market Data, 6% (5%) of SGX’s revenue

Market data revenue was 13% higher at $8.9 million ($7.9 million) mainly on increased subscriptions for price information and the revised fee for Derivatives Quote. The average number of securities and derivatives terminals was 44,487 (40,169) and 25,391 (23,576), respectively, in 2Q FY2012.

Member Services and Connectivity, 7% (5%) of SGX’s revenue

Member Services and Connectivity revenue increased by 9% to $10.4 million ($9.5 million).

Membership revenue was $1.9 million ($2.3 million) as only one member was admitted to our market compared to 14 members in the same quarter a year ago.

Connectivity revenue rose 16% to $8.4 million ($7.2 million) primarily due to revenue from our new Co-Location services since 18 April 2011. The average securities and derivatives connectivity subscriptions were 182 (122) and 605 (604), respectively.

Depository Services, 16% (14%) of SGX’s revenue

Depository revenue was $23.3 million ($23.5 million).

Securities settlement revenue increased 7% to $17.3 million ($16.2 million) mainly driven by increased institutional settlement instructions as more institutions utilise SGX Prime, our pre-matching infrastructure, for post-trade settlement efficiency.

Contract processing was 24% lower at $4.4 million ($5.8 million) as the number of contracts processed declined 33% to 2.0 million from 3.1 million a year ago. Depository management revenue was flat at $1.6 million ($1.5 million).

Issuer Services, 10% (9%) of SGX’s revenue

Issuer Services revenue was 12% lower at $14.3 million ($16.3 million).

Listings revenue decreased 16% to $8.3 million ($9.9 million) as fund raising activities slowed.

In 2Q FY2012, the total equity fund raising was $2.4 billion ($7.3 billion): $214.7 million ($4.9 billion) in primary funds raised by nine (12) new listings and $2.2 billion ($2.3 billion) in secondary funds raised. On the fixed income side, 35 new bond issues (69 new bond issues), raising $19.0 billion ($41.6 billion), were listed on SGX.

Corporate action revenue was lower at $6.0 million ($6.4 million) due to reduced corporate action activities, 454 compared to 479 a year ago.

Footnotes:

1Excludes structured warrants, extended settlement contracts and OTC derivatives cleared.

22Q FY12: 9 IPOs; 2Q FY11: 12 IPOs.

3Excluding the one-off ASX-SGX transaction cost of $7.5 million, SGX’s underlying net profit was $81.7 million and $155.9 million, respectively, in 2Q and 1H FY2011.

For more information, kindly contact:

Media: Investor Relations:
Loh Wei Ling John Gollifer
Communications Investor Relations:
Tel: (65) 6236 8157 Tel: (65) 6236 8540
Email: Email:
loh.weiling@sgx.com johngollifer@sgx.com

Carolyn Lim Lau Mei Seong
Communications Investor Relations
Tel: (65) 6236 8139 Tel: (65) 6236 8356
Email:
carolyn.lim@sgx.com Email: meiseong@sgx.com

Please refer to the Appendix for the Financial Highlights.

Appendix

Financial Highlights

—————————————————————————————–

2Q
2Q 1H 1H
$ Million FY2012 FY2011 Change FY2012 FY2011 Change
————————– —— —— ——- —— —— ——————–
Income Statement

Revenue
————————– 148.1 172.2 (14.0%) 326.5 331.3 (1.4%)

Expenses
————————– 68.9 71.7 (3.9%) 143.4 139.8 2.6%

Earnings before interest,
tax, depreciation and
amortisation
————————– 89.3 109.6 (18.6%) 204.4 209.3 (2.3%)

Reported Net Profit
attributable to equity
holders
————————– 65.4 74.2 (11.8%) 152.9 148.4 3.1%

Add:
————————–

– ASX-SGX transaction
related costs
————————– — 7.5 (100%) — 7.5 (100%)

Underlying Profit 65.4 81.7 (19.9%) 152.9 155.9 (1.9%)
————————– —— —— ——- —— —— ——————–

Statement of Financial Position
—————————————————————————————–
Cash and cash equivalent
(excluding restricted
reserves) 486.7 463.6 5.0% 486.7 463.6 5.0%
Capital expenditure 7.2 23.6 (69.6%) 21.9 28.1 (22.2%)

Total equity 731.1 720.9 1.4% 731.1 720.9 1.4%
————————– —— —— ——- —— ————– ————

Financial Indicators

(a) Based on Reported Net Profit attributable to equity holders
—————————————————————————————–
Net profit margin (%) 44.0 42.9 1.1 pts 46.4 44.8 1.6 pts
-1.4
Return on equity (%) 8.9 10.3 pts 20.9 20.6 0.3 pts
Basic earnings per share
(cents) 6.13 6.95 (0.82) 14.32 13.91 0.41

Operating cash flow per
share (cents) 7.23 7.71 (0.48) 17.08 16.02 1.06
————————– —— —— ——- —— —— ——————–

(b) Based on Underlying Profit
—————————————————————————————–
-3.3
Net profit margin (%) 44.0 47.3 pts 46.4 47.0 -0.6 pts
-2.4
Return on equity (%) 8.9 11.3 pts 20.9 21.6 -0.7 pts

Basic earnings per share
(cents) 6.13 7.66 (1.53) 14.32 14.62 (0.30)
————————– —— —— ——- —— —— ——————–

Dividend per share (cents)
—————————————————————————————–

Interim base 4.00 4.00 — 8.00 8.00 –
————————– —— —— ——- —— —— ——————–

Note: SGX’s financial year is from 1 July to 30 June.

Taiping Reinsurance Company, Ltd. (Taiping Re), a leading reinsurer in Asia, has licensed a package of financial risk software products from Ultimate Risk Solutions, Ltd. (URS), David Piesse, URS Managing Director-Asia, announced.

The package includes Risk Explorer™, the dynamic financial analysis software used by many of the prominent insurers, reinsurers, brokers and insurance regulators in different parts of the world as a risk modeling and strategic decision-making tool; Res-Solver™, the stochastic loss reserving software; and URS Real World™, a global economic scenario generator that simulates the behavior of macro economic indicators in various economies.

“We’re especially pleased that after an exhaustive study and comparative analysis, Taiping Re determined that Risk Explorer™, Res-Solver™ and URS Real World™ best meet their modeling needs,” said Alex Bushel, Founder and CEO of URS.

“We are strongly committed to the Asian region and will provide continuing active support together with our business partner, Talent & Pro Limited, to Taiping Re from our respective Hong Kong offices,” Piesse stated.

Patrick Ho, Managing Director of Talent & Pro, Hong Kong, said, “We are delighted to be the project manager, as well as fulfilling an analytical support role for Taiping Re over the coming three years.”

Taiping Re is a subsidiary of China Taiping Group and is the largest professional reinsurance company incorporated in Hong Kong where it has operated for 31 years. It is also a major provider of reinsurance in China from its office in Beijing, and throughout Southeast Asia from its Labuan (Malaysia) office. Taiping Re is rated A-Excellent by A.M. Best; A-Strong by Standard & Poor’s; and A Strong by Fitch.

Ultimate Risk Solutions, LLC is an independent financial risk software developer with offices in New York, London, Zurich, Madrid, Hong Kong, Bangkok and Singapore. Founded in 2001, URS has grown into one of the largest providers of dynamic financial analysis risk models to insurers and reinsurers worldwide, as well as regulatory authorities.

Talent & Pro Hong Kong Limited is an insurance consultancy and insourcing company with its roots in the Netherlands and offices in United Kingdom, Shanghai and Hong Kong.

URS contacts:

David Piesse
Managing Director-Asia
dpiesse@ultirisk.com

Chris Venvell
Business Development Director-Asia
cvenvell@ultirisk.com

Media contact:
Mechlin Moore
MDM Communications
mmoore7412@aol.com

MEDIA ALERT: Join Leading Commodities Experts in Singapore on February 22 and 23

WHAT: INTL FCStone Inc. (Nasdaq:INTL) is presenting its 2012 Asia-Pacific Outlook Conference to help investors, producers, processors and end users of commodities foresee global supply and demand issues and, in the process, help them prepare for and protect against the risks of price fluctuations in a time of increasing uncertainty about global commodity supplies.

WHEN: February 22 and 23, 2012.

WHERE: Singapore Grand Hyatt, 10 Scotts Road, Singapore, Republic of Singapore 228211

WHY: This important event will feature economists, analysts, traders and brokers presenting their insight into global and Asia-Pacific economies.

Speakers will cover the supply-demand outlook for key agricultural commodities including wheat, palm oil, vegetable oil, sugar, dairy, coffee and cotton; base and precious metals; energy products including petroleum and natural gas; and raw materials. This conference will also cover new exchange traded and OTC products; investment banking opportunities; and regulatory developments in the U.S., Europe and Asia-Pacific Region.

For more information on the conference, and a complete list of speakers and topics, please visit http://www.intlfcstone.com/seminars/outlook/Pages/SingaporeOutlook.aspx. Persons interested in attending the event can contact Erin Olson at erin.olson@intlfcstone.com. Members of the media can attend all daytime sessions of the conference at no charge.

About INTL FCStone Inc.

INTL FCStone Inc., through its subsidiaries, provides execution and advisory services in commodities, currencies and international securities. INTL FCStone’s subsidiaries, which include the commodities advisory and transaction execution firm FCStone Group, serve more than 10,000 commercial customers in more than 100 countries through a network of offices in eleven countries around the world. Further information on INTL FCStone Inc. is available at www.intlfcstone.com.

CONTACT: INTL FCStone Inc.
Erin Olson
515-273-4051
erin.olson@intlfcstone.com

NASDAQ OMX (Nasdaq:NDAQ) has scheduled its Fourth Quarter 2011 results announcement for Wednesday, February 1, 2012.

Who: Robert Greifeld, Chief Executive Officer
Lee Shavel, Chief Financial Officer

Review NASDAQ OMX’s Fourth Quarter 2011
What: Financial Results

When: Wednesday, February 1, 2012

Results Call: 8:00 a.m. Eastern Time. Senior management will be available for questions from shareholders following prepared remarks via the following telephone numbers:

Telephone: 877.645.6210 (U.S.)
914.495.8566 (International)

All participants can access the conference via Internet webcast through the NASDAQ Investor Relations website at http://ir.nasdaqomx.com/.

An audio replay of the conference will be available after the call on the NASDAQ Investor Relations website at http://ir.nasdaqomx.com/ or by dialing 855.859.2056 (U.S.) or 404.537.3406 (International); Passcode: 40555266

Note: The press release for the Fourth Quarter 2011 results will be posted on the NASDAQ OMX Investor Relations website at http://ir.nasdaqomx.com/ on Wednesday, February 1, 2012 at approximately 7:00 a.m. ET.

About NASDAQ OMX

The NASDAQ OMX Group, Inc. is the world’s largest exchange company. It delivers trading, exchange technology and public company services across six continents, with approximately 3,500 listed companies. NASDAQ OMX offers multiple capital raising solutions to companies around the globe, including its U.S. listings market, NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North, and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and exchange-traded funds. NASDAQ OMX technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.

NDAQF

CONTACT: NASDAQ OMX Investor Relations Contact:
Vincent Palmiere
+1.301.978.5242
Vincent.Palmiere@NASDAQOMX.Com

NASDAQ OMX Media Contact:
Frank De Maria
+1.212.231.5183
Frank.DeMaria@NASDAQOMX.Com