India Globalization Capital Inc. (IGC), Files 10-Q for the Quarter Ended June 30, 2008 and Announces Record Financial Results and VillageEDOCS Named One of Orange County's 50 Fastest Growing Companies by Deloitte & Touche

City of Industry, CA --(www.USEquityNews.com)-- 08/19/2008 - Business Services industry alert provided by U.S. Equity News. India Globalization Capital, Inc. (AMEX: IGC), a U.S.-based company developing infrastructure in India through its majority-owned subsidiaries, Sricon Infrastructure Private Limited (Sricon) and Techni Bharathi Limited (TBL), filed its First Quarter financial results, on Form 10-Q, for fiscal 2009, which ended on June 30, 2008. For the Quarter Ending June 30, 2008, IGC reported revenue of $17.9 million, net income of $1.29 million, basic and fully diluted Earnings Per Share (EPS) of $0.15 and $0.14 respectively. For the 2007 June Quarter, IGC is reporting the results for the combined predecessor companies Sricon and TBL. We believe this provides a better basis for comparing the changes in Sricon and TBL's businesses, between the quarters. Sricon and TBL were IGC's first acquisitions, consummated in March 2008. Prior to March 2008, IGC was a blank check company and accordingly, IGC does not believe that a comparison of the results of operations for the quarter ended June 30, 2008, which include Sricon's and TBL's operating results for the full quarter, versus IGC's June 30, 2007 results of operations for the same period is useful to stockholders.


Ritchie Bros. Auctioneers (TSX: RBA), the world's largest industrial auctioneer, conducted an unreserved public auction on August 15, 2008 in Las Vegas with auction proceeds in excess of US$30 million. More than US$29 million of trucks and equipment (representing 95 percent of the total gross auction proceeds) was sold to buyers from outside the state of Nevada with 41 percent of items available for sale online being sold to internet purchasers. There were 1,383 online and on-site bidders from 26 countries, including 46 U.S. states, participating in the unreserved public auction. "There was a large crowd on site on auction day and very active bidding both here and over the internet," said Jim Rotlisberger, Ritchie Bros. Regional Manager. "We set some exciting internet bidding records for our site, with 50 percent of the registered bidders participating online -- live and in real time, using rbauctionBid-Live -- and 146 internet buyers purchasing US$12.5 million of trucks and equipment. Internet bidders were winner or runner up bidder on 53 percent of the lots available online." American Asphalt & Grading Company, one of the largest speciality civil contractors in Las Vegas, consigned close to 140 of the more than 1,000 equipment items sold in Friday's unreserved public auction.

VillageEDOCS, Inc. (OTCBB: VEDO), a Solution as a Service (SaaS) company, which is the largest segment of the Software as a Service (SaaS) market, announced recently that it has been named one of the fastest growing companies in Orange County as recognized by Deloitte & Touche LLP in its Technology Fast 50 Program, a ranking of the fastest growing technology, media, telecommunications and life sciences companies in the area. VillageEDOCS has also been nominated for consideration in the Technology Fast 500, which honors the 500 fastest growing North American technology companies. A congratulatory reception will be held on Oct. 23, 2008 at The Center Club in Costa Mesa, Ca. The Orange County Technology Fast 50 annually recognizes the fastest-growing companies within the geographic boundaries of Orange County. The awards are based on percentage revenue growth over a five-year period. To qualify, companies must own proprietary intellectual property or proprietary technology that contributes to a significant portion of their operating revenues. Nominees can be public or private companies, and encompass all technology, media, telecommunications and life sciences industry sectors. "We are honored to be named to the prestigious Orange County Technology Fast 50, and proud to be recognized as one of the leading technology companies in one of the most vibrant technology and economic communities in the country," stated Mason Conner, President and Chief Executive Officer of VillageEDOCS. "Over the past five years, VillageEDOCS has experienced a 50% compounded annual growth rate, and we attribute our success to the technology-driven suite of outsourced business information delivery services we provide to our more than 1,400 corporate clients. Making the Fast 50 is a testament to the dedication and hard work of all of our employees who have helped make this achievement possible," he added.

ELM Technologies, Inc. (OTC: ETGS), the provider of innovative workforce modeling and scheduling solutions to long-term care providers, recently announced that River Oaks Healthcare Center in Columbus, TX has committed to acquire the GENERATOR(TM) workforce modeling and scheduling system for their nursing. Founded in 1993, River Oaks Healthcare Center is a 140-bed facility with 100+ employees servicing the greater Colorado County area. "Long-term care providers understand the intricate challenges involved in establishing an efficient workforce model, and River Oaks is no exception," stated Barbara Rivera, President of ELM Technologies. Barbara added, "Maintaining appropriate staffing levels, controlling labor costs, and ensuring staff have the proper qualifications to provide quality service are all keys to successful growth of any healthcare organization.

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