KOWLOON, HONG KONG, Nov. 17 /PRNewswire-FirstCall/ -- ACL Semiconductors, Inc. (OTC:ACLO) (BULLETIN BOARD: ACLO) , one of Asia's largest distributors of memory chip products, reported its financial results for the three and nine months ended September 30, 2008. Full details on third quarter 2008 financial results are available on Form 10-QSB at http://www.sec.gov/. For the three months ended September 30, 2008, ACL Semiconductors reported revenues of $51.3 million, representing an increase of 17% compared to $44.0 million in revenues for the three months ended September 30, 2007. Third quarter 2008 revenues were in line with the Company's previously announced expectations for approximately $50 million in revenues. Net income was $532,239, or $0.02 per diluted share, in the third quarter of 2008 compared to $538,027, or $0.02 per diluted share, in the third quarter of 2007. For the nine months ended September 30, 2008, ACL Semiconductors reported revenues of $149.5 million, an increase of 39% compared to revenues of $107.7 million reported in the same period of 2007. Net income for the nine months ended September 30, 2008 was $325,886, or $0.01 per diluted share, compared to net income of $429,479, or $0.02 per diluted share, in the same period of 2007. Shares outstanding were 28,329,936 and 27,829,936, in the third quarter of 2008 and 2007, respectively. "We are pleased to report another profitable quarter with continued double-digit revenue growth over last year. As of September 30, 2008, we had more than 150 active customers in Hong Kong and Southern China. Our distribution of Samsung products enabled us to significantly increase sales volumes despite downward pricing per unit sales. While most memory chip manufacturers reduced their production capacities in the first half of the year, Samsung's Semiconductor Business Unit showed strength and filled unmet market demand," said ACL Semiconductors Inc. CEO Alan Yang. "Samsung was the only major memory supplier worldwide to turn a profit in the third quarter. With continued, healthy demand for Samsung's products and our expanding customer base and distribution channels in Asia, we expect to continue to report increased sales volumes and profits in the fourth quarter of 2008." About the ACL Semiconductors Inc. ACL Semiconductors Inc. ("ACL") is a principal distributor of memory products including DRAM and Flash for Samsung Electronics Co. Ltd. in Hong Kong and Southern China since 1991. ACL is now one of the largest and most successful distributors for memory products in Asia. The company has achieved annual sales in excess of one hundred million dollars since 2004. ACL has been in business in Asia for the past 18 years and, during that time, has evolved as an integral part of southern China's development while serving the OEM and ODM manufacturing base for GPS, mobile phones, UMPC, ePCs, Wi-Fi products, laptop computers, servers, routers, workstations, desktop computers, PDAs, digital cameras, MP3 players, USB drives and other consumer electronics worldwide. The company has more than 200 customers in Hong Kong and southern China. ACL trades on the OTCBB under the symbol, ACLO. Safe Harbor Act Notice This information contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "Act"). In particular, when used in the preceding discussion, the words "plan," "confident that," "believe," "scheduled," "expect," or "intend to," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act and are subject to the safe harbor created by the Act. Such statements are subject to certain risks and uncertainties and actual results could differ materially from those expressed in any of the forward-looking statements. Such risks and uncertainties include, but are not limited to, market conditions, the availability of components and successful production of the company's products, general acceptance of the company's products and technologies, competitive factors, timing, and other risks described in the company's SEC reports and filings. Third-party statements contained herein and information contained on any third-party Web site are not endorsed by or adopted by ACL Semiconductors, nor have ACL Semiconductors or its affiliates verified their accuracy. DATASOURCE: ACL Semiconductors, Inc. CONTACT: Kenneth Chan, CFO, ACL Semiconductors Inc., +852-2246-9090, ; Investor Relations: Rick McCaffrey, OTC Financial Network, +1-781-444-6100 x625, Web site: http://www.acl-semicon.com/ http://www.otcfn.com/aclo

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