Veltex Corporation (VLXC)

[veltextruth]

CITY OF INDUSTRY, Calif., July 13 /PRNewswire-FirstCall/ -- 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 net sales in the first quarter of 2004 totaled $10.9 million. Net
income in the first quarter totaled $857,306.
"We are very encouraged by these profitable results and continue to
project that total sales in 2004 will exceed $25 million," said Javeed Matin,
Chairman and CEO. Veltex sales in 2003 totaled $19.99 million, Company sales
in 2002 totaled $13.9 million, and sales in 2001 were $8.7 million.
Veltex' net income in 2003 was $1.528 million, in 2002 totaled
$1.65 million and was $1.3 million in 2001. "Sales have grown from
$5.5 million in 1999 to almost $20 million in 2003 under current management,"
Mr. Matin said.

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.veltexcorporation.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
Reform 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.

Paul Knopick
E & E Communications
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