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BICO China deal 51% interest

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Nuturitional Co. 2nd China deal

ORLANDO, Fla., Jul 20, 2004 /PRNewswire-FirstCall via COMTEX/ --
Bio-One Corporation (OTC Bulletin Board: BICO) announced today that the company has signed an agreement to acquire a 51% interest in a Chinese herbal medicine company in Henan Province. The business reported 2003 revenues of $17 million, operating pro
fit of $3.2 million and assets totaling $9 million.

The company is an integrated business that includes Chinese herbal medicine, nutrition products, drugs and medical devices. Their distribution channels are to agencies, wholesalers, retailers, hospitals and direct to consumers.

Purchase terms include cash and convertible preferred stock priced at $2.00 and $3.00 per share, respectively, with lock-up terms regarding sale. The 465-employee business will continue to be run with its present management team. Closing is scheduled to occur upon the completion of the certified audits, which is anticipated to be within 90 days.

Bio-One President and CEO Armand Dauplaise said, "This will be our fifth step in establishing a presence in China. We are aggressively pursuing additional synergistic candidates in China as well as in North America that meet our criteria for profitability and revenue growth."

Bio-One announced in April the purchase of majority control of WeiFang Shengtai Pharmaceuticals, a Shandong Province-based manufacturer and distributor of glucose that reported $16.3 million in revenue in 2003 and a net income of $2.3 million. Bio-One announced in March that it signed an agreement to acquire a 51% interest in a prominent Chinese herbal medicine company with reported 2003 revenues of $20 million. In May, Bio-One announced its third step in establishing a presence in China with the signing of an agreement to acquire a 51% interest in a Chinese herbal medicine company in Hebei Province with reported 2003 revenues of $9 million. In June, Bio-One announced its fourth step with the signing of an agreement to acquire a 51% interest in a Chinese herbal medicine company in Guangzhou Province with reported 2003 revenues of $10 million.

About Bio-One

Bio-One Corporation is a nutritional supplements company serving the preventive and alternative healthcare segments. The company intends to acquire additional businesses in order to provide quality nutraceuticals to consumers through vertical integration of manufacturing, distribution and marketing. Current Bio-One subsidiaries include PNLabs, American Nutritional Exchange, Interactive Nutrition International, Nutrition Sciences Corp. and WeiFang Shengtai Pharmaceuticals Co. Ltd.

Bio-One Corporation is committed to its mission of the continuing pursuit of excellence in serving its customers, suppliers, team members and shareholders. Bio-One is confident that it will accomplish its mission and goals through the application of its management philosophy, which is to treat others the way they would want to be treated themselves.

An investment profile on Bio-One Corporation may be found at http://www.hawkassociates.com/bioone/profile.htm.