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Clarient Renews and Expands Mezzanine Credit Facility With Safeguard
Date:3/3/2009

ALISO VIEJO, Calif., March 3 /PRNewswire-FirstCall/ -- Clarient, Inc. (Nasdaq: CLRT), a premier anatomic pathology and molecular testing services resource for pathologists, oncologists and the pharmaceutical industry, today announced that, effective February 27, 2009, the Company has renewed, expanded and extended its senior subordinated revolving credit facility with Safeguard Scientifics, Inc. (NYSE: SFE), Clarient's majority shareholder.

"In the current market environment, having a solid investor with the vision and capacity to support our robust growth is very encouraging," said Ron Andrews, Clarient's Vice Chairman and Chief Executive Officer. "We believe the staging of the warrants in our new agreement provides us ample time to source longer term financing solutions. Clearly, having this renewed and expanded line will allow us to focus on delivering the key milestones outlined in my recent letter to shareholders, which included 2009 annual revenue guidance of $93 million to $98 million."

The mezzanine debt facility provides maximum availability of $30 million for working capital purposes. The facility matures April 1, 2010. The new facility replaces a $21 million facility that was set to mature April 15, 2009. The outstanding balance of the facility at December 31, 2008 was approximately $13.4 million. In addition, the Company announced today that it has also renewed its credit facilities with Comerica Bank and Gemino Healthcare Finance, LLC. Complete details are available in the Form 8K filed with the SEC today.

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