NEW YORK, Oct. 20, 2005 (PRIMEZONE) -- Amersin Life Science Corporation (OTCBB:AMLSE) announced today that it has reached a termination agreement and will be disposing of its interest in the Hubei Tongji Benda Ebei Pharmaceutical Co. Ltd. joint venture in the Hubei Province of China. Under the terms of the agreement Amersin will return its interest in the joint venture to Benda Science and Technology Company in exchange for $220,000 to be paid within six months and the return of 1.6 million shares of Amersin common stock to treasury. Additional details may be found on Form 8-K filed with the Securities and Exchange Commission this date.
"Safe Harbor" Statement:
This news release contains certain "forward-looking" statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Actual results may differ materially from the forward-looking statements contained herein. Detailed information about many risk factors are set forth in Amersin's periodic filings with the Securities and Exchange Commission including, but not limited to, those risks and uncertainties listed in the sections entitled "Cautionary Note Regarding Forward-Looking Statements" and "Management's Discussion and Analysis" in Amersin's most recent Quarterly Report on Form 10-QSB. All documents are available through the SEC's Electronic Data Gathering Analysis and Retrieval system (EDGAR) at http://www.sec.gov or the Amersin web site at http://www.amersin.com. Amersin is under no obligation, and expressly disclaims any obligation, to update or alter its forward-looking statements, whether as a result of new information, future events or otherwise.
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