Veltex Corporation (VLXC)

[Rob2004]

Veltex Announces Record Sales and Profit in 2004

CITY OF INDUSTRY, Calif., Feb 16, 2005 /PRNewswire-FirstCall via COMTEX/ -- Veltex Corporation (Pink Sheets: VLXC), a vertical manufacturing, import and distribution company for apparel and accessories, announces preliminary, unaudited, consolidated financial results for Calendar Year Ending December 31, 2004.
Total revenues were $41,639,889. Net income was $6,034,417.

Javeed Matin, CEO of Veltex Corporation commented, "We are proud of the growth of our Company and look forward to even greater heights in 2005. At this time I would like to extend a heartfelt thank you to all of our worldwide employees, suppliers, contractors, customers and shareholders. Keep up the Good Work!"

As far as 2005, Mr. Matin commented, "We anticipate our completed US GAAP quality audit for 2003 will be issued approximately March 15, 2005. The 2004 audit is expected to be issued approximately April 15, 2005."

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 and distribution of merchandise; 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. Its current customers include brand name and private label manufacturers such as Target and Nike.



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 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.
SOURCE Veltex Corporation



CONTACT: Veltex Corporation, [phone]