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Thursday, 04/29/2004 9:36:28 AM

Thursday, April 29, 2004 9:36:28 AM

Post# of 219267
Dalrada Financial Corporation Launches Health Savings Accounts (HSA)

SAN DIEGO, April 29 /PRNewswire-FirstCall/ -- Dalrada Financial Corporation (BULLETIN BOARD: DRDF) today announced that it has introduced "Health Savings Accounts" to be provided to employees of its client companies.

Health Savings Accounts (HSA) were created by a provision in the Medicare Prescription Drug Improvement and Modernization Act signed into law in December 2003. As long as an employee meets the eligibility requirements he or she can set up an HSA. Employees can contribute up to $2,600 dollars in 2004 ($5,150 for a family). Contributions to an HSA, provides an "above-the-line" deduction on tax returns. If Dalrada's client company makes a contribution, it is not taxable to the employee.

HSA contributions accrue over time. It's not like the "use it or lose it" type of flexible spending accounts that have been commonplace. HSA contributions grow tax-deferred. Withdrawals are tax-free if used for qualified medical expenses. Employees over 50 years of age can also make a catch-up contribution of $500 in 2004 (increasing by $100 per year to a maximum of $1,000 in 2009).

"This new benefit is designed to help our client companies offer greater flexibility to their employees," said Brian Bonar, Chairman and CEO of Dalrada Financial. "Additionally, we believe we can provide even greater overall savings as related to employee medical benefits," he added.

HSA plans are now available to Dalrada client companies.

Dalrada has recently announced a variety of new financial products and services to its clients designed to offer client-company employees more benefits at lower cost.

The company currently provides a variety of innovative financial services to businesses, including comprehensive human resource administration and employee benefits such as health insurance and 401(k) plans. Dalrada also offers debit card payroll accounts and payroll advances. These services enable small employers to offer benefits and services to their employees that are generally available only to large companies.

About Dalrada Financial Corp.

Dalrada Financial Corporation (BULLETIN BOARD: DRDF) was founded in 1982. Headquartered in San Diego, California, the Company provides a variety of professional services related to human resources to businesses.

A number of Dalrada's subsidiaries, including SourceOne Group, and ProSportsHR(TM) are professional employer organizations that provide a variety of personnel and human resources services to small to medium-sized businesses. Further information can be obtained on the following internet sites: http://www.prosportshr.com/ and http://www.sourceonegroupinc.com/ .

The Company's MedicalHR(TM), and CallCenterHR(TM) subsidiaries are temporary staffing organizations, which provide full-service staffing services to specialized industries.

The Company owns controlling interest in Quik Pix, Inc. (Pink Sheets: QPIX), a leading visual marketing support firm located in Buena Park, California. The company's patented PhotoMotion(TM) is a unique color medium of multi-image transparencies. Information on the Company is available at http://www.colorvisuals.com/ . QPIX also produces and distributes the company's other imaging products, including its proprietary suite of ColorBlind(R) software, which is devoted to color management for desktop and commercial printing and graphic arts. More information is available at color.com.

Information on the Company is available at the ITEC Web site at http://www.dalrada.com/ .

Statements in this press release may constitute forward-looking statements and are subject to numerous risks and uncertainties, including the failure to complete successfully the development of new or enhanced products, the Company's future capital needs, the lack of market demand for any new or enhanced products the Company may develop, any actions by the Company's partners that may be adverse to the Company, the success of competitive products, other economic factors affecting the Company and its markets, seasonal changes, and other risks detailed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. The actual results may differ materially from those contained in this press release. The Company disclaims any obligation to update any statements in this press release.

Contact:
Brian Bonar, Chief Executive Officer
Dalrada Financial Corporation
9449 Balboa Avenue, San Diego, CA 92123
858-277-5300 * e-mail bbonar@dalrada.com

Dalrada Financial Corporation

CONTACT: Brian Bonar, Chief Executive Officer of Dalrada Financial
Corporation, +1-858-277-5300, or bbonar@dalrada.com

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