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Vencor To Receive Up To $20 Million Line of Credit
Monday February 24, 9:06 am ET

http://biz.yahoo.com/bw/030224/245197_1.html


LOS ANGELES--(BUSINESS WIRE)--Feb. 24, 2003--Vencor International, Inc. (Pink Sheets:VNCO - News) today announced that an agreement has been finalized to secure a new line of credit with an international investment firm.
Upon successful completion of due diligence, the firm will make available a credit line of $10 million at a 6% rate of interest for a period of 36 months. It will collateralize this line of credit with future receivables due to Vencor. Upon meeting additional stipulated requirements, Vencor may be offered an additional line of $10 million at an 8% rate of interest for a period of 24 months.

Ben Armijo, Vice President of Vencor, said, "This additional working capital over the next few years would give us more than enough resources to create a strong revenue stream for our shareholders and offer us the flexibility to market additional products quicker than we anticipated."

Vencor was recently selected to distribute and license internationally (excluding all of North America) an "At Home" HIV test that offers results that can be determined in a few minutes rather than days or weeks with traditional tests. Building on its international business relationships around the world, management of Vencor will solidify distribution channels in Europe, Africa, Asia, Central and South America.

The new Vencor licensed test has been evaluated and determined to be as valid as traditional tests, at a fraction of the time and cost. This one-step rapid diagnostic test is sensitive to HIV-1, HIV-2 and Group 'O' infections, and gives laboratory-grade test results, as verified in recent third-party clinical trials. It works with plasma, serum or whole blood. A special procedural control zone accompanies each test kit to confirm the test was run correctly. In only twenty minutes, patients and doctors receive definitive answers. Several clinical trials of the product have shown sensitivity and specificity of greater than 98%.

With a significant line of credit, Vencor could bolster its capabilities in marketing its products around the world. If sales are as expected, Vencor hopes to add other unique products to its distribution channels. Management continues to add staff and has already made significant advances in lining up strategic partners in many of the countries identified as strong potential markets for Vencor's products.

Safe Harbor Statement

This announcement contains forward-looking statements that involve risks and uncertainties that include, among others, the Company's unpredictability of future revenues, potential of lines of credit being revoked, potential fluctuations in quarterly operating results, seasonality, competition, risks associated with system development and operation risks, management of potential growth and risks of new business areas and strategic alliances.



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Contact:
Vencor International, Inc.
Ben Armijo, 213/748-1988
[e-mail]