International Pharmacy Outlets Inc (fka IPCY)

[rca]

HERE'S HIS AFFILIATION FROM IPCY'S SIDE:

International Pharmacy Outlets, Inc. Announces Shareholder Update
Market Wire, August, 2004
International Pharmacy Outlets, Inc. (OTC: IPCY) Company's President and CEO Mr. Michael P. McCabe announced today the Company's intent to move forward with the Company's Original Business Plan of acquiring profitable private companies whose growth has been limited by the lack of financial support. IPCY is able to assist in the growth and increased profitability of such entities by way of acquisition and thereafter providing the necessary capital funding required for the expansion.

Mr. McCabe further announced the Company had been in a freeze mode for the last three months in order to protect its shareholders from the attempted "Hijack" effort to take over the Company by Mr. Paul Taylor of Boca Raton, Florida. The Company has now authorized its attorney, Mr. Marc Tow, to file multiple "Fraud" suits against Mr. Taylor in Federal Court. The Company has further filed a complaint with the SEC against Mr. Taylor for fraudulently obtaining Insider Information from official sources and the Company's Transfer Agent.

All official governing and reporting agencies including the Secretary of State have been notified of Mr. Taylor's misleading attempts to portray himself as an Officer/Director of the Company and in several instances as the President.

In addition, IPCY is nearing completion on the reconstruction of its new multi-functional website. One added benefit on the new website design will be the strong focus on the Investor Relations portion of the website. The new URL for the website is www.ipcyinc.com.

About International Pharmacy Outlets, Inc.

International Pharmacy Outlets, Inc. is publicly traded holding company whose stock is traded over the counter under the trading symbol IPCY. IPCY is presently in discussions with privately held entities that have a unique niche or products in their respective fields. These entities are participating in the pharmaceutical and nutraceutical; consumer appliances; manufacturing and distribution; oil and gas; and the software industries. IPCY's Board is also reviewing unsolicited submissions from companies that are requesting long-term joint venture relationships. The Company's Board of Directors is currently reviewing the operational and financial implications of these proposals.