SOURCE: GelTech Solutions, Inc.

August 07, 2008 08:00 ET

GelTech Solutions Secures $4 Million Line of Credit to Ramp up Production

JUPITER, FL--(Marketwire - August 7, 2008) - GelTech Solutions, Inc. (OTCBB: GLTC) announces today that it has entered into a one-year unsecured Revolving Line of Credit Agreement permitting GelTech to borrow up to $4 million.

The line of credit is available to pay for the acquisition of inventory supported by firm orders and has a 5% per annum interest rate on the principal amount of the advances.

Michael Cordani, CEO, GelTech Solutions, stated, "During this difficult time in the financial markets, we are pleased and excited to obtain this unsecured line of credit. This provides the Company with increased flexibility and non-dilutive capital that will assist in keeping up our production capacity."

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About GelTech:

GelTech Solutions creates innovative, Earth-friendly, cost-effective products that help industry, agriculture, and the general public accomplish environmental and safety goals, such as water conservation and the protection of lives, homes, and property from fires and other dangers. GelTech's dedication to finding global answers to common problems touches its current products and its development pipeline of new and promising innovations.

GelTech markets and sells innovative proprietary products including:

* FireIce®, a patented powder that extinguishes fires, including wildfires; and

* RootGel™, a solution to today's drought challenges. RootGel™ is a moisture-retentive soil conditioner that decreases the need for water. RootGel™ is ideal for golf courses, lawns, tree and sod farms, and nurseries.

For more information on GelTech Solutions, Inc. please visit

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