April 15, 2013 07:30 ET

AlphaRx Announces Name Change to UMeWorld Limited -- New Name Reflects Company's Focus, Direction and Commitment to Create Significant Shareholder Value

HONG KONG--(Marketwired - Apr 15, 2013) - AlphaRx Inc. (OTCQB: ALRXF), today announced that effective April 15, 2013 its name will become UMeWorld Limited, and its common shares will continue to be quoted by the OTC Markets OTCQB with its current symbol ALRXF as of the market open. According to Michael Lee, President of AlphaRx Inc., the name change was made to more accurately reflect the company's focus and direction. Lee said, "The name UMeWorld is a clearer, more straightforward indication of who we are, what we do, and the clients we serve. We are a digital media company connecting people together." The name change will not require any action by stockholders. Shares held in trading accounts will be automatically updated to reflect the new name in their account statements. Stockholders who hold shares in certificate form are not required to exchange their AlphaRx certificates.

The company's new focus is already yielding impressive results. "Over the past several months, we have taken decisive actions to strengthen our operations by diversifying our business. The recent acquisition of UMeLook Holdings Limited has also proven successful and the company is working on additional acquisitions to fuel growth," said Lee. "We are excited about the future prospects of our company, and look forward to building a new recognizable brand that will enhance our visibility, improve the liquidity in our common stock and will help create significant shareholder value."

Forward Looking Statement

Statements in this press release that relate to the Company's expectations with regard to the future impact on the Company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties. Words such as "expects," "intends," "plans," "may," "could," "should," "anticipates," "likely," "believes" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analyses and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management. Readers are urged not to place undue reliance on the forward-looking statements, which speak only as of the date of this release since they involve known and unknown risks, uncertainties and other factors which are, in some cases, beyond our control and which could, and likely will, materially affect actual results, levels of activity, performance or achievements. We assume no obligation to publicly update or revise any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release, even if new information becomes available in the future. For a more detailed description of the risk and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the Securities and Exchange Commission.

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