Veltex Corporation (VLXC)

[pual]

Veltex Announces Successful Due Diligence, Set to Conclude John Daly Acquisition.


July 7, 2005 /PRNewswire via COMTEX/ -- Company to Commence International
Marketing Activities at



British Open Championship.

CITY OF INDUSTRY, Calif., July 7 /PRNewswire-FirstCall/ -- Veltex Corporation
(OTC: VLXC) today announced that it had successfully completed its due diligence
of John Daly Enterprises and anticipated finalizing the acquisition of 50% of
the company within the next few days.

The announcement comes on the eve of The British Open Championship at St Andrews
and the 10-year anniversary of Daly's Open triumph at that course.

Under the agreement Veltex will market the brand and product categories around
the world (excluding USA) and is currently engaged in meaningful discussions
with prospective licensees and distributors. Product Categories include apparel,
footwear, headwear and other golf products.

The strategy of owning and licensing brands (Veltex also recently acquired the
Gidget brand) is part of the overall business plan and is intended to provide
the corporation with ongoing revenue streams, without the traditional business
expenses and provide diversification from its core businesses of manufacturing
and distribution of branded and generic apparel, while continuing to grow its
overall business.

Veltex is rapidly expanding its international reach and is looking for further
synergistic acquisitions and brands to complement its business plan.