WESTLAKE VILLAGE, Calif., Nov. 20, 2003 (PRIMEZONE) -- QT 5, Inc. (OTCBB:QTFV), manufacturer and marketers of NICOWater(tm), the breakthrough Homeopathic Nicotinum (nicotine) product designed to relieve the symptoms of tobacco cravings, today announced that it has signed an exclusive distribution agreement with STI Distribution for the rights to market and sell NICOWater(tm) in the Republic of South Korea. With over 14 million total smokers, South Korea represents the ninth largest tobacco market in the world and a significant opportunity for the Company.
The South Korean Government recently passed revisions to the Public Health Improvement Law, which took effect July 1, banning smoking at buildings with more than 3,000 square meters of floor space and at hospitals, schools and other places where large crowds gather. In a country where a full 68% of adult males smoke, the demand for an alternative like NICOWater(tm) is tremendous and built-in.
Mr. Woo Young Kim, STI Chairman stated, "I am honored that QT 5 has chosen my company to introduce NICOWater(tm) to the South Korean marketplace. This product is an ideal solution for millions of South Korean smokers who are suffering from the increased governmental restrictions. In addition to decreased productivity, many people are experiencing heightened anxiety from the inability to readily relieve the symptoms of tobacco cravings. STI has a strong history of fulfilling the needs of South Korea's consumers. I am confident that NICOWater(tm) will be successful everywhere that there are smokers and we are anxious to pioneer QT 5's international efforts."
"We have proudly announced our recent successes in opening a number of leading Drug chains and regional distribution networks within the United States," said Steven H. Reder, QT 5, Inc. President. "The addition of our first International distributor represents a significant step in the execution of our strategic product introduction. Our company has been achieving results on many fronts and it is my conviction to continue to keep all of our constituents informed about our progress, and I look forward to subsequent announcements in the coming weeks."
About QT 5, Inc.
QT 5, Inc. is a Delaware corporation formed in April 1999 as a manufacturer, distributor and marketer of Bio-Med testing and Homeopathic products. QT 5, Inc. currently manufactures and markets NICOWater, its breakthrough Homeopathic Nicotinum (nicotine) product designed to relieve the symptoms of tobacco cravings. QT 5 continues to do research and development regarding future products for lifestyle enhancements. QT 5, Inc. is headquartered in Westlake Village, California. For more information on the Company please visit: www.qt5inc.com. NICOWater(tm) is a Homeopathic Drug product that is sold under the FDA's Compliance Policy Guide Conditions Under Which Homeopathic Drugs May Be Marketed.
This press release contains forward-looking statements that involve risks, uncertainties and assumptions that, if they never materialize or prove incorrect, could cause the results of QT 5, Inc. to differ materially from those expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including any projections of earnings, revenue, or other financial items, any statements of the plans, strategies, and objectives of management for future operations, any statements concerning proposed new products, services or developments, any statements regarding future economic conditions or performance, statements of belief and any statements of assumptions underlying any of the foregoing. These statements are based on expectations as of the date of this press release. Actual results may differ materially from those projected because of a number of risks and uncertainties, including those detailed from time to time in the reports filed by QT 5, Inc. with the Securities and Exchange Commission. QT 5, Inc. assumes no obligation and does not intend to update these forward-looking statements.