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News for 'VLVT' - (Veltex Announces Record Sales in 2003)


CITY OF INDUSTRY, Calif., May 19, 2004 /PRNewswire-FirstCall via COMTEX/ --
Veltex Corporation (OTC: VLVT), a vertical manufacturing, import and
distribution company in the apparel industry that is headquartered with sales
and marketing offices in City of Industry, Calif., with factories in Bangladesh,
announced today that sales in 2003 totaled $19.99 million. Net income for 2003
totaled $1.528 million, or approximately $0.01 per share (169,531,946 shares
outstanding).

"We are very encouraged by the continued annual increase in sales and the
positive net income," said Javeed Matin, Chairman and CEO. "Our projection for
sales had been $17 million and we are pleased that we exceeded that total."

Company sales in 2002 totaled $13.9 million and sales in 2001 were $8.7 million.
Veltex' net income in 2002 was $1.65 million and $1.3 million in 2001. "Sales
have grown from $5.5 million in 1999 to more than $19 million in 2003 under
current management," Mr. Matin said. The Company has projected that 2004 sales
will exceed $25 million.

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; 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.





http://www.veltexcorp.com

http://www.veltexapparel.com

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 Reforms 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.

For further information, please contact: Paul Knopick of E & E Communications,
[phone], [e-mail], for Veltex Corporation.

SOURCE Veltex Corporation



CONTACT: Paul Knopick of E & E Communications, [phone],

[e-mail], for Veltex Corporation