News

LifeBrandz Enters Into $36.0 Million Distribution Agreement For Indonesia

The Board of Directors of the Company wishes to announce that, the Company has on 22 June 2004 signed a distribution agreement ("Distribution Agreement") appointing Diethelm Singapore Pte Ltd ("Distributor" or "Diethelm Singapore") as its exclusive distributor for a period of three years to distribute its Extrim tablets in Indonesia.

Under the Distribution Agreement, Diethelm Singapore shall appoint its related company - PT DKSH Healthcare Indonesia as its exclusive distributor for the products in Indonesia.

Pursuant to the Distribution Agreement, the Distributor is committed to sales orders amounting in aggregate to $36.0 million up to the financial year ending 31 July 2007, including an initial order of a minimum volume amounting to sales of $2.0 million by not later than 30 June 2004.

Diethelm Singapore is part of Diethelm Keller Services Asia ("DKSH"), a leading solution provider and knowledge broker specialized in sourcing, marketing, logistics and distribution fulfillment and after-sale service. DKSH is a member of the Switzerland-based, Diethelm Keller Group.

DKSH has worldwide offices throughout Asia, Europe and America. The main business segments are consumer goods, healthcare, specialty and life science chemicals, food and ingredients, premium per products and technology.

The transaction is not expected to have any material impact on the net tangible assets and earnings per share of the Company for the current financial year.

None of our Directors or Substantial Shareholders has interest (direct or indirect) in Diethelm Singapore.