SOURCE: Pinnacle Group Unlimited Inc.

September 16, 2005 12:29 ET

Pinnacle Group Unlimited Inc. Entering Generic Drug Market

LAS VEGAS, NV -- (MARKET WIRE) -- September 16, 2005 -- Pinnacle Group Unlimited Inc. ("the Company") (OTC: PGPU) announced today that the next phase of its growth and development has begun with the signing of a Letter Of Intent with Bioplus Pharmaceuticals Inc. ("Bioplus"), a privately held corporation which has a proprietary interest in certain formulations for the manufacture of generic drugs. Pinnacle will acquire all of the issued and outstanding shares of Bioplus for new treasury shares of Pinnacle. The number of shares to be issued to the shareholder of Bioplus upon this acquisition will be 3,000,000 common shares.

In an effort to add to shareholder value Pinnacle is terminating its acquisition of Aerofoam Metal Inc. and pursuing its acquisition of Bioplus as we feel that Bioplus is in a much more advanced stage in its sales and marketing plan.

About Bioplus

Bioplus is a pharmaceutical development company incorporated to develop, manufacture and market a wide range of generic prescription drug products for the global health care market. These products will be directed to the (i) hospital and institutional market and (ii) retail market, particularly retail pharmacies. Over-the-counter (OTC) products are also being considered. The retail market is four times the size of the hospital and institutional market, the retail prices are higher than hospital prices.

The Company is currently active in the following areas: (i) Central Nervous System Drugs such as anti-convulsants and anti-psychotics (ii) Anti-Infection Drugs such as erythromycin opthalmic ointment (iii) Topical Dermatology Drugs such as topical antibiotics, topical anti-fungals and anti-inflammatories (iv) Hormonal Drugs such as steroidal drugs, and (v) Other Drugs such as ophthalmics.

Generic pharmaceuticals are bioequivalent and therapeutic equivalent alternatives to brand name drugs that have lost the market exclusivity of patent protection. Generic drugs offer the same active chemical entity as trade name products, but differ inert substance formulations. Inert ingredients include binders, fillers, artificial colors, flavorings, etc. Since these substances may effect the bioavailability of the active ingredient, bioequivalence studies must be conducted by manufacturer's and submitted to the federal Food and Drug Administration (FDA) before new generic products are approved for sale.

Bioplus will focus on a line of low-cost prescription and over the counter products. New relationships with major drug companies are being sought as they bring great opportunities for Bioplus to concentrate on its objective to be a fully integrated pharmaceutical company. Alliances with other companies will bring additional strengths to Bioplus, and will create possibilities for increased market share in a number of areas. Alliances will show that the Company is committed to growth in existing areas of development, as well as reaching out towards new markets.

This release includes forward-looking statements, which are based on certain assumptions and reflects management's current expectations. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results or events to differ materially from current expectations. Some of these factors include: general global economic conditions; general industry and market conditions and growth rates; uncertainty as to whether our strategies and business plans will yield the expected benefits; increasing competition; availability and cost of capital; the ability to identify and develop and achieve commercial success for new products and technologies; the level of expenditures necessary to maintain and improve the quality of products and services; changes in technology; changes in laws and regulations, includes codes and standards., intellectual property rights, and tax matters; the uncertainty of the emerging generic pharmaceutical economy; including the generic pharmaceutical economy moving at a pace not anticipated; our ability to secure and maintain strategic relationships and distribution agreements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

The Pinksheets does not accept responsibility for the accuracy of the news release.

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