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FITZGERALD, GA -- (MARKET WIRE) -- July 21, 2006 -- Colony Bankcorp, Inc. (NASDAQ: CBAN) today reported record quarterly net income of $2,610,000 for the second quarter of 2006, up 16.15 percent from second quarter 2005 net income of $2,247,000. Diluted earnings per share for the second quarter of 2006 was $0.36 per share compared to $0.31 per share for the same year ago period or an increase of 16.13 percent. Annualized return on assets for the quarter was 0.90 percent and return on equity excluding FASB 115 accounting effect was 14.37 percent, compared to 0.89 percent and 13.77 percent for the same year ago period, respectively. Net interest margin increased to 3.95 percent for second quarter 2006 compared to 3.88 percent for the same year ago period and 3.80 percent for first quarter 2006.

Shabnam Khatoon, 21, lives in Khadagpur village, on the fringes of Lucknow. The sole bread winner in a family of eight, Khatoon's years of low-paying domestic jobs came to an end when she trained in jute bag making, candle making and then chikan embroidery. Today Khatoon, who herself employs four other women, has put her younger siblings in school and is saving to buy a home. Neeta Kumar, 39, is experimenting with a concept new to Lucknow, a rural theme park that doubles up as an arts and crafts exhibition ground and market. The park opened in February to enthusiastic response. Rita Mittal, 43, determined not to go the "boutique and beauty parlour way", set up a menthol production and processing unit in 1989 in Lucknow's Chinhat Industrial area. Today she supplies to the Delhi and Mumbai markets, and is working on plans to export her products.

Eimskip has acquired an additional 20% equity stake in Lithuanian short-sea container shipping line, Kursiu Linija, and has a call option on the remaining 30% of the equity after the next four years.

(7/21/2006)

Eimskip previously acquired a 50% equity interest in Kursiu Linija in May 2006.

The purchase price for the 70% equity stake was 5 million.

By acquiring a controlling 70% interest, Kursiu Linija will form part of Eimskips financial statements with effect from August 1, which is the beginning of the fourth quarter in Eimskips financial year.

Author: Newsdesk / eyefortransport.com

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