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Biotech / Medical : Global Medical Products Holdings, Inc. (GMDP) -- Ignore unavailable to you. Want to Upgrade?

To: Wayne Rumball who wrote (1)	9/19/2003 10:05:58 AM
From: Wayne Rumball	Read Replies (2) \| Respond to of 7

LAGUNA HILLS, Calif., Aug 11, 2003 /PRNewswire-FirstCall via COMTEX/ -- Global Medical Products Holdings, Inc. (OTC: GMDP) announced today that the last legal proceeding against the Company has been settled and that it has made its first payment in the settlement of the Goulding Trust v. 37Point9 (Global Medical Products Holdings, Inc.) legal action. The second and final payment is scheduled for November 15th. The Company, as previously announced, is in final negotiations on a funding package that will provide for the acquisition of a building in the southern United States using existing preferred stock. The building, a modern 80,000 square foot structure, is located in a regional corridor of manufacturing and industrial facilities and will be used for EZ Trac Labs, manufacturing and office space. Additionally, the funding will allow the Company to effect the acquisitions of Shanghai Ecom and Global Glass Source as well as fund the manufacturing of certain patented technologies that the Company is licensing. Doug Brown, President of Global Medical Products Holdings, Inc., stated that the efforts to remove the stigma of previous management is finally coming to reality. "We have worked hard to turn this Company from a 'shell' corporation into a viable revenue generating, operating entity. The addition of EZ Trac Labs in January has already begun the revenue process. With the completion of the funding and subsequent effecting of the acquisitions, the Company will have an approximate book value of $0.10 per share. This is an enormous turn-around from the Company's position of 18 months ago," Brown stated. Legal Notice Regarding Forward-Looking Statements: "Forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995 may be included in this news release. These statements relate to future events or our future financial performance. These statements are only predictions and may differ materially from actual future results or events. Global Medical Products Holdings, Inc. disclaims any intention or obligation to revise any forward-looking statements whether as a result of new information, future developments or otherwise. There are important risk factors that could cause actual results to differ from those contained in forward-looking statements, including, but not limited to risks associated with changes in general economic and business conditions, actions of our competitors, the extent to which we are able to develop new services and markets for our services, the time and expense involved in such development activities, the level of demand and market acceptance of our services and changes in our business strategies. For further information, please contact Doug Brown of Global Medical Products Holdings, Inc., +1-888-420-4042. SOURCE Global Medical Products Holdings, Inc. CONTACT: Doug Brown of Global Medical Products Holdings, Inc., +1-888-420-4042 (GMDP)