Afexa Life Sciences Inc.

Afexa Life Sciences Inc.

January 11, 2005 09:00 ET

CV Technologies Posts Record Sales of $11.3 Million in First Three Months of Fiscal 2005 and Announces First Profitable Year in Company's History




JANUARY 11, 2005 - 09:00 ET

CV Technologies Posts Record Sales of $11.3 Million in
First Three Months of Fiscal 2005 and Announces First
Profitable Year in Company's History

EDMONTON, ALBERTA--(CCNMatthews - Jan. 11, 2005) - CV Technologies Inc.
(CVT) (TSX VENTURE:CVQ) today released its preliminary sales figures for
the first quarter of 2005 showing preliminary gross sales of $11.3
million - an increase of 542% over the same quarter in 2004 of $1.76

CVT president and CEO, Dr. Jacqueline Shan said, "We had high
expectations for this quarter. It seems we've achieved our goal. These
figures are the result of all the hard work and planning we have done in
developing brand awareness and expanding our distribution network in
eastern Canada, while further strengthening same store sales in western

CV Technologies also released its annual financial statements for fiscal
2004 - a benchmark year in CVT's history marking the first profitable
year since it was founded in 1992. CVT posted a net profit of $150,918
while at the same time continuing a strong program of clinical trials
and R&D activities which further differentiates the Company from its

The 2004 improvement in performance is attributable to 1) increase in
sales of 316% from $1,543,326 in 2003 to $6,416,732 in 2004, 2)
improvement in gross margin by 6.9% as a result of reducing the costs of
goods sold resulting from greater operating efficiencies as well as
economies of scale, and 3) an overall reduction in expense to sales
ratio from 156% of sales in 2003 to 64% in 2004. CVT is continuing to
aggressively manage operating costs to ensure maximum return for

Dr. Shan said, "CVT's strong sales performance is attributable to a
successful product awareness strategy involving significant media
coverage resulting from science and business events as well as a major
advertising campaign in print and broadcast. Developing new sponsorships
and retail partners were also critical elements in our efforts."

"Recognizing our growth, we have appointed Gordon Brown, CGA - a skilled
and experienced business executive to assume the position of Chief
Financial Officer," said Dr. Shan. Mr. Brown has more than 15 years
experience in corporate finance and has had direct experience in
implementing systems and controls to manage companies experiencing
accelerated growth.

Dr. Shan said, "2004 certainly was an exciting year for our company
marked by many achievements. At the same time it's clear that 2005 is
offering us a chance to do even better. We have a strong foundation and
we continue to put into place strategies to manage our growth in a year
of great potential."


CV Technologies is a biotechnology company founded in 1992. It aims to
become a global leader in the development and commercial of safe and
effective, evidence based, natural therapeutics for disease prevention
and health maintenance. CVT's lead product, COLD-fX® strengthens the
immune system and is widely used as a leading anti-cold, anti-flu,
non-prescription drug. COLD-fX is patented and its unique mechanism of
action is developed and standardized according the Company's
ChemBioPrint technology, a patented process that precisely identifies
the chemical profile and biological activity of patented multi-active
components-based natural therapeutics. This is a combination of chemical
and pharmacological fingerprint that ensures each batch of products
delivers verifiable and provable health benefits, and is both safe and
consistence with previous batches.

This news release contains forward-looking statements that involve risks
and uncertainties, which may cause actual results to differ materially
from the statements made. For this purpose, any statements that are
contained herein that are not statements of historical fact may be
deemed to be forward-looking statements. Without limiting the foregoing,
the words "believes", "anticipates", "plans", "intends", "expects" and
similar expressions are intended to identify forward-looking statements.
Such risks and uncertainties include, but are not limited to, the need
for capital, changing market conditions, completion of clinical trials,
patient enrolment rates, uncertainty of pre-clinical, retrospective and
early clinical trial results, the establishment of manufacturing
processes and new corporate alliances, the timely development,
regulatory approval and market acceptance of the Company's products, and
other risks detailed from time to time in the Company's filings with
Canadian securities authorities.


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