Quote: Pharmessen Scientific, Inc. Announces Management Changes SAN DIEGO--(BUSINESS WIRE)--August 30, 2004--Pharmessen Scientific, Inc. (Other OTC: PASC.PK - News), a global nutraceutical research company focused on providing leading supplements for better general health, announced today that founder Dr. Dusan G. Ninkov has resumed his CEO role on an interim basis, a post he held up until February of this year. In connection with this change, the company has relieved its Chief Executive Officer and Chief Financial Officer from their respective positions. Also on an interim basis, the CFO function will be performed with the assistance of the company’s outside accounting firm. The move was part of a larger effort, including a reduction of other administrative personnel, for the purpose of reallocating resources from overhead to sales and production support. "This change in management signals a return to fundamentals, and a re-unification of managerial philosophy with shareholder value," said Dr. Ninkov. "We believe that Pharmessen has not realized sales growth to a level consistent with the quality of its existing product, and we are actively reducing overhead to dedicate all available resources to the company’s sales effort." Consistent with this renewed priority on sales, Pharmessen also announced the appointment of Gabriel Luna de la Fuente as Chief Operating Officer. De la Fuente is a seasoned sales veteran, with successful tenures with Coca-Cola, Champions Sports Memorabilia, Univision Television, and El Informador Magazine. "Pharmessen has an exciting product line, and it has been well-received by the market," says de La Fuente. "My belief is that this company’s growth will and should come from profits, which in turn come from sales. That will be my focus."