GT 5 Ltd Signs Definitive Agreement for Acquisition


BREA, Calif., March 16, 2005 (PRIMEZONE) -- GT 5 Ltd (Pink Sheets:GTFV) announced today that the Company has signed a definitive stock exchange agreement pursuant to which it will acquire all of the outstanding shares of CryoPort Systems, Inc. ("CryoPort") in exchange for shares of common stock of the Company. The transaction has been approved by each party's respective Board of Directors and the Shareholders of CryoPort. The closing of the transaction is subject to standard closing conditions, including, the surrender by the shareholders of CryoPort of their respective shares of CryoPort common stock in order to effect the exchange. Upon completion of the transaction, CryoPort is expected to be a wholly-owned subsidiary of the Company, and the name of the Company shall be changed to CryoPort Systems, Inc. The management and Board of Directors of CryoPort will replace the Company's existing management structure. Additionally, the Company will apply to NASDAQ requesting a new trading symbol to reflect the name change and update the Company's NASD filings to reflect the transaction. The Company currently trades on the pink sheets under the symbol GTFV.

For additional information on CryoPort products, visit the company's website at www.cryoport.com. For investment information, a downloadable Investor Fact Sheet is available at www.firstcapitalinvestors.com/factsheets/cryo.pdf.

This press release may contain forward-looking statements. The words "estimate", "possible" and "seeking" and similar expressions identify forward-looking statements, which speak only as to the date the statement was made. The company undertakes no obligation to publicly update or revise any forward-looking statements, whether because of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted, or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation, competition and other material risks.



            

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