Tuesday, April 26, 2005 8:46:21 AM
Tuesday April 26, 6:00 am ET
[Yes, MSITF is real. HPON is not.]
EDMONTON, Alberta, April 26 /PRNewswire-FirstCall/ -- Medical Services International Inc. (OTC: MSITF - News) announced today that it has received a fully executed contract from the Federal Ministry of Health of Nigeria to supply them with the Company's rapid VScan HIV 1&2 Test kits. The contract, which calls for payment in advance, was signed and executed by both parties last Wednesday, April 20 at an official ceremony held on the grounds of the Federation of Supreme Court Justices. The ceremony was witnessed by, and the contract bears the seal of, the Chief Justice of Nigeria's Supreme Court of Justices. This contract was previously announced on April 10, 2005 following notification that Medical Services had been awarded the tender offer to supply $25 million worth of its VScan HIV test kits to Nigeria.
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Medical Services has also received confirmation from the Federal High Court in Nigeria that, in accordance with Nigeria's Money Transfer Act of 1962, it has authorized and made legal a payment in the sum of $25,000,000 in favor of Medical Services International, Inc. Furthermore, Medical Services has received confirmation from the Federal Republic of Nigeria that the upcoming payment for its test kits has received Exchange Control approval, an additional requirement for all foreign payments that is issued by the Accountant General's office. The Company will begin delivery of the kits in June 2005.
About VScan
The VScan rapid test kit is a single use, disposable, accurate (greater than 99%), cost effective, easy to use, test for the screening of HIV 1&2, Hepatitis B&C, Tuberculosis (TB), West Nile, Dengue Fever, Malaria, Syphilis and Prostate Cancer. The kits cannot be sold in Canada.
Medical Services International Inc. trades in the United States on the NQB Pinksheets under the symbol "MSITF". For further information, please contact Robert Talbot at (780) 430 6363 or Bill Whitehead Jr. at (416) 822 5883 or http://www.medicalservicesintl.com . For Investor Relations in the U.S., contact James Swift or Andy Arms at Equitilink LLC toll-free, 877-788-1940.
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