82%
 

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Med Gen Monthly Sales Top Estimates
Tuesday October 12, 8:30 am ET

BOCA RATON, Fla.--(BUSINESS WIRE)--Oct. 12, 2004--Med Gen Inc. (OTCBB:MDGN - News), manufacturers of the national brands Snorenz®, snore relief throat spray and Good Nights Sleep®, sleep aid throat spray, announced today that its sales for the month ending September 30th, 2004 were $101,352. Sales for September have exceeded monthly sales over the past four months and indicate very positive growth as a result of the advertising campaigns that were implemented in April. The normally quiet summer months are now giving way to the company's most profitable seasons, fall and winter.
Paul Kravitz, company Chairman and Chief Executive, in a telephone conference with investment professionals went on to explain that the company shows other important signs of healthy growth. In a comparison of September 2003 with preliminary and unaudited September 2004 numbers, the company has dramatically increased its operating income by $89,000 and in doing so has reached "break even" on an operating basis. This is a result of an intensive reduction in costs associated with legal, general overhead and rent. Secondly, the company went from a negative shareholders equity of $881,000 to a positive shareholders equity of $355,000, a swing of $1.23 million and lastly, current liabilities were reduced from $1,918,267 to $267,034, a reduction of $1.65 million.

As a result of the tremendous improvement in the company's financial position, management feels that it has positioned the company for expansive growth as it enters its eighth year. New store openings, a healthy capital position and reduced overhead all spell success.

This Press Release contains or incorporates by reference "forward looking statements" including certain information with respect to plans and strategies of Med Gen Inc. For this purpose, any statements contained herein or incorporated herein by references that are not statements of historical fact may be deemed forward looking statements. Without limiting the foregoing, the words "believes", "suggests", "anticipates", "plans", "expects", and similar expressions are intended to identify forward looking statements. There are a number of events or actual results of Med Gen operations that could differ materially from those indicated by such forward looking statements.

Med Gen, Inc. is a publicly traded company on the OTCBB exchange "MDGN".

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Contact:
Med Gen Inc., Boca Raton
Paul B. Kravitz, 561-750-1100
Web Site: http://www.medgen.com