SOURCE: Medical Services International Inc.

July 26, 2005 06:00 ET

Medical Services International Projects Million Dollar Profit in First Quarter

EDMONTON, AB -- (MARKET WIRE) -- July 26, 2005 -- Medical Services International Inc. (OTC: MSITF) projects that in its first fiscal quarter it will exceed $1,000,000 US in profit. Based on existing contracts, current invoices and scheduled deliveries for its VScan products in the first quarter ( July 05 to Sept 05), the Company is projecting that it will report a profit for the first quarter of $1,130,000 US on overall revenue of $2,440,000 US.

As the existing contracts extend through the second quarter and it is anticipated that the Company will obtain additional contracts, it is reasonable to expect that the Company will continue to maintain or slightly exceed its first quarter pace. The time, effort and expense that the Company incurred over the last three years getting its VScan products perfected and approved by regulatory authorities in different countries, as well as setting up distribution networks, is now beginning to pay off.

About VScan

The VScan rapid test kit is a single use, disposable, accurate, cost-effective, easy-to-use test for the screening of HIV1&2, Hepatitis B&C, Tuberculosis (TB), Dengue Fever, West Nile, Syphilis, Malaria and Prostate Cancer. The Kits cannot be sold in Canada.

Medical Services International Inc. trades in the United States in the Pinksheets under the symbol "MSITF." For further information, please contact Robert Talbot at (780) 430 6363 or Bill Whitehead Jr. at (416) 822 5883 or www.medicalservicesintl.com or www.minerva-biotech.com.

NOTE: Certain statements in this press release are "forward-looking statements" within the meaning of the Private Securities Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause results to differ materially. Such risks, uncertainties and other factors include but are not limited to new economic conditions, risk in product development, market acceptance of new products and continuing product demand, level of competition and other factors described in Company reports and other filings with regulatory bodies

Contact Information

  • Contact:
    Robert Talbot
    (780) 430 6363

    Bill Whitehead Jr.
    (416) 822 5883