LOW PEG Ratio Stocks

[Growth And Value]

VLXC to acquire large Canadian Manufacturer & Distributor:

CITY OF INDUSTRY, Calif., June 2 /PRNewswire-FirstCall/ -- Veltex
Corporation (OTC Bulletin Board: VLXC) announced today that it has signed a
Letter of Intent to purchase a large profitable Canadian textile business.
Javeed Matin, Veltex CEO, stated, "This acquisition will dramatically increase
the size of Veltex and increase our revenue base by multi millions of dollars.
It's an exciting acquisition as the company has exceptional license agreements
in place and produces garments for many well-known companies." The Company
has over 80 employees in Canadian office and is well established in the
promotional products industry. The agreement moves the company on step closer
to its 2005 strategic goal related to North American expansion. More details
will be released shortly as terms of this acquisition are finalized. The
company has been in manufacturing business over 30 years.
Javeed Matin, CEO of Veltex, expressed excitement at signing the Letter of
Intent: "This acquisition fits wonderfully into our expanding business plan,
and will dramatically increase our client base as well as profit margin. The
investment Veltex is making will permit us to become a major player in the
promotional products industry. Matin added that, "We have been looking for
good acquisition candidates that will both enhance our operations and create
value for our shareholders. This acquisition does both."

Veltex Corporation is a vertical manufacturing, import and distribution
company composed of three divisions: Veltex Apparel, specializing in caps,
apparel and apparel accessories for the Promotional Products Industry and
distribution of merchandise; Velvet Textile Mills, specializing in the
manufacture of high quality fabrics including velvets, 100% cotton twill,
denim, sheeting for consumer and industrial products; and KCA Garment
Industries, specializing in the manufacture of garments.

Safe Harbor: Except for historical information contained herein, the
statements in this Press Release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and unknown
risks and uncertainties, which may cause the Company's actual results in
future periods to differ materially from forecasted results. These risks and
uncertainties include, among other things, volatility of market prices,
product demand, market competition, risks inherent in the Company's
international operations, and the Company's ability to replace and expand.

CONTACT: Finn Walstad, [phone] at http://www.otcgrowth.com