SOURCE: RxElite, Inc.

June 09, 2008 12:21 ET

RxElite Subsidiary FineTech Pharmaceutical, Ltd. President, Speaker at EBRD Panel on "High Tech -- High Stakes" for European Emerging Growth Countries in the Global Marketplace

Dr. Arie Gutman, President of FineTech Pharmaceutical, Ltd. and Board Member of RxElite, Inc. Emphasized the Critical Importance of Innovation to Compete Successfully in the Global Marketplace

MERIDIAN, ID--(Marketwire - June 9, 2008) - RxElite, Inc. (OTCBB: RXEI), a developer, manufacturer, and marketer of specialty generic prescription drug products, was honored that Dr. Arie Gutman, a board member and President of its FineTech subsidiary, had been selected as a participant in a panel discussion attended by more than a hundred bankers, entrepreneurs and investors from Eastern Europe at this year's annual meeting of the European Bank for Reconstruction and Development (EBRD).

Dr. Gutman's presentation and discussion focused on the need for innovation as a key to low cost global competitiveness in the fast growing economies of Eastern Europe and the former Soviet Union.

"My examples were from the generic pharmaceutical industry. Even in this field, which by definition is not considered innovative, our success at RxElite requires innovative approaches in specialty niches to be competitive in the global market," said Dr. Gutman. "From our perspective, these countries are growing quickly, as is their standard of living and healthcare systems. We believe that this market holds significant potential for quality generic products."

About the European Bank for Reconstruction and Development

The European Bank for Reconstruction and Development was established in 1991 when communism was crumbling in Central and Eastern Europe and ex-soviet countries needed support to nurture a new private sector in a democratic environment. Today the EBRD uses the tools of investment to help build market economies and democracies in countries from central Europe to central Asia.

The EBRD is the largest single investor in the region and mobilizes significant foreign direct investment beyond its own financing. It is owned by 61 countries and two intergovernmental institutions. But despite its public sector shareholders, it invests mainly in private enterprises, usually together with commercial partners.

About RxElite, Inc.

RxElite, Inc. develops, manufactures and markets generic prescription drug products in specialty generic markets. These markets include products in the areas of anesthesia, sterile liquid dose drugs (including respiratory inhalation drugs, ophthalmics and injectable drugs) and transdermal patch products.

Safe Harbor Statement

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 involving known and unknown risks, delays, and uncertainties that may cause our actual results or performance to differ materially from those expressed or implied by these forward-looking statements. These risks, delays, and uncertainties include, but are not limited to: risks associated with the uncertainty of future financial results, our reliance on our sole supplier, the limited diversification of our product offerings, additional financing requirements, development of new products, government approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties detailed in the Company's filings with the Securities and Exchange Commission. The Company undertakes no obligation to update any forward-looking statements.

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