Cdex, Inc. (fka CDEX)

[d4diddy]

STATEMENT FROM THE CEO

October 24 , 2002


...As an update for our work with the Army reported in the last CEO Statement, his work has taken a near-term backseat to our efforts on the anti-terrorism front, as discussed above. We have one more test to do before we can wrap up our final report and let the Army decide whether the EM-1X warrants additional development funding as a potential fit into the Army’s long term mix of mine detection equipment. While the test is tentatively scheduled for December, we will assure that it does not adversely impact our development efforts on the MSSS and the PSSS. This is a strategic business decision based on near-term needs of the country, potential long and short-term revenues for the company, and long- term positioning for CDEX. We will keep you informed of progress.

NOOOOOOO..... not the dreaded "near-term backseat/backburner"!!! That means forever!!!

Does anyone see the pattern here. With no promising test reports, is the meth gun destined to be "near-term backburnered" for the Golden Widget which has recently been circulating through the rumor mill??