CITY OF INDUSTRY, Calif., Dec. 1 /PRNewswire-FirstCall/ -- Veltex
Corporation (Pink Sheets: VLXC) expects revenues for 2004 to be over $40
million with net profits of over $7 million or $3 a share. The company
currently has approximately 1.3 million shares in the float. Veltex plans on
becoming fully reporting and moving off the pink sheets to a major exchange
upon completion of its audits, which the company is currently undergoing.
Veltex Corporation plans to enter the $6 billion surf apparel industry.
Using similar business models as Roxy and Quicksilver, Veltex will create and
design apparel and accessories in order to establish itself in the surf
apparel marketplace. Javeed Matin, Chairman and CEO states, "Entering the
surf apparel industry offers great growth potential for Veltex. Even
capturing a small percentage of this $6 billion industry will significantly
impact our bottom line. We can offer customers a quality product at much
lower prices than our competitors."
Veltex also announces the expansion of its sales force. Vice President of
Sales and Marketing, Jordan Ross, expects to hire up to 50 new sales
representatives in the first quarter of 2005. The new sales representatives
will primarily focus on expanding Veltex's presence in the U.S. and making the
Company a major player in the promotional products industry.
Veltex expects its products will also be offered in major retail and
department stores in the first half of 2005. The Company will offer its own
brand name products as well as private label apparel and accessories. A new
product line is currently being created and designed to offer additional
options in this market.
"We look to continue growing the company at increasing rates. Next year
should be an excellent year for Veltex as we establish our presence in the
U.S. We are taking numerous steps to make Veltex a world class apparel
company," states Javeed Matin.
Veltex Corporation is a vertical manufacturing, import and distribution
company composed of three divisions: Veltex Apparel, specializing in caps,
apparel and apparel accessories for the Promotional Products Industry and
distribution of merchandise; Velvet Textile Mills, specializing in the
manufacture of high quality fabrics including velvets, 100% cotton twill,
denim, sheeting for consumer and industrial products; and KCA Garment
Industries, specializing in the manufacture of garments.
http://www.veltexcorporation.com http://www.veltexapparel.com

Safe Harbor: Except for historical information contained herein, the
statements in this Press Release are forward-looking statements that are made
pursuant to the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and unknown
risks and uncertainties, which may cause the Company's actual results in
future periods to differ materially from forecasted results. These risks and
uncertainties include, among other things, volatility of market prices,
product demand, market competition, risks inherent in the Company's
international operations, and the Company's ability to replace and expand.

For investor relations please contact Daniel Seifer at 248-321-0121 or
dseif2@aol.com

SOURCE Veltex Corporation
-0- 12/01/2004
/CONTACT: For investor relations: Daniel Seifer, +1-248-321-0121, or
dseif2@aol.com , for Veltex Corporation/
/Web site: http://www.veltexcorporation.com http://www.veltexapparel.com /
(VLXC)