Vencor Signs Letters of Intent with Distributors in Pakistan, Thailand, Italy, Armenia and Switzerland: Management Negotiated Sale of 3,000,000 "HIV Quick Test" Units to Distributors Business Wire
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Vencor Signs Letters of Intent with Distributors in Pakistan, Thailand, Italy, Armenia and Switzerland: Management Negotiated Sale of 3,000,000 "HIV Quick Test" Units to Distributors

Business Wire - April 9, 2003


LOS ANGELES--Vencor International, Inc., received a Letter of Intent from a major medical testing distribution company in Thailand today. The letter of intent provides the Thai company distribution rights for Vencor's HIV 1 & 2 Quick tests. Vencor management negotiated a minimum of 1,200,000 units will be ordered by this local distributor. If sales in Thailand are as expected, additional orders may come as soon as the summer. In addition, Vencor is pursuing talks with this Thai firm for distribution rights to Vencor's Dengue Fever Quick Test and the Hepatitis Quick Test.

Management also disclosed that terms have been reached for a HIV Quick Test distribution deal with a firm in Pakistan. A minimum of 1,200,000 units will be shipped to this local distribution partner. Management's research shows that the need for Vencor's HIV Quick Test in Pakistan is tremendous. Vencor is still negotiating with this distributor to provide them the rights to sell the Dengue Fever Quick Test and Hepatitis Quick Test in the Pakistani market.

Vencor's first European distributor agreed to buy 600,000 units of the HIV Quick Test for sale in Italy, Armenia and Switzerland. Competition and compliance with local regulations in Europe make the continent more difficult for Vencor to secure market share in. Vencor will focus on distributing Hepatitis Quick tests into Europe because the company anticipates its unit pricing will offer distributors a distinct competitive advantage in the European market.

Vencor's Vice President of Sales, Luis Minkin, commented, "The marketing staff at Vencor is literally working night and day contacting our relationships around the world and negotiating distribution agreements for our new product line. I believe Vencor's shareholders will be thrilled by the early success we will see in penetrating the markets that we have existing relationships in. We see great opportunity for Vencor's product line in Central America, South America, Caribbean, Southern Africa and Eastern Europe."

Vencor Opens New Corporate Office In Beverly Hills, California

Management also announced that senior staff members and the entire sales department will move to Vencor's new corporate offices located at 8501 Wilshire Boulevard in Beverly Hills, California. Management signed a four-year lease with Madison Partners, owner of the property. Vencor acquired an option on an additional four years tenancy as part of the lease terms. The building offers additional office suites and Vencor can expand into these office suites if necessary due to potential growth in both the sales and accounting departments within the firm. The company will maintain its apparel showroom and distribution facilities located at 1030 South Los Angeles Street in downtown Los Angeles.

About Vencor

Vencor is a supplier of apparel for women and young adults and has recently launched an international distribution business for pharmaceutical products. The Company is building a distribution channel for its diagnostic products in many South American, African and Asian countries. A strong advocate of combining new technology and consumer demand, Vencor is poised to fully benefit from its significant tax loss carry forward in the apparel business as well as grow new revenues from its expanding pharmaceutical product distribution division.

Safe Harbor Statement

This announcement contains forward looking statements that involve risks and uncertainties that include, among others, the Company's unpredictability of future revenues, potential of lines of credit being revoked, potential fluctuations in quarterly operating results, seasonality, competition, risks associated with system development and operation risks, management of potential growth and risks of new business areas and strategic alliances.

CONTACT: Vencor International, Inc.

Ben Armijo, 213/748-1988, VENCORINTL@AOL.COM

SOURCE: Vencor International, Inc.


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