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Corgenix Expands Operations in United States and Europe; New U.S. Facility and U.K. Office Designed to Meet Growth Expectations

Posted on: Tuesday, 18 July 2006, 09:00 CDT

Corgenix Medical Corporation (OTC BB: CONX), a worldwide developer and marketer of diagnostic test kits, has relocated its headquarters and manufacturing facility, as well as its international business office in the United Kingdom, to meet the Company's expected worldwide growth in its sales of diagnostic products.

The new 32,000 square foot Denver-based headquarters has more than doubled in size from the previous combined sites. The new building houses corporate headquarters and administration, research and product development, quality and regulatory affairs management, manufacturing, and North American sales and marketing management. The U.K. office manages the Company's international distribution network and serves as a distribution center for Company products sold throughout Europe and the Middle East.

"This expansion and relocation is a significant strategic move for our Company, signifying our expectation for greatly increased sales of our diagnostic products worldwide," said Douglass Simpson, Corgenix President and Chief Executive Officer. "Our existing U.S. and international offices were constraining our ability to grow, and these changes directly address this problem. Our new U.S. headquarters is a state-of-the-art facility, which will allow us to increase production to meet expected market demands for existing and future products. Equally as important, even though we more than doubled the size of our facility, the overall occupancy costs over the seven year term of the lease will only increase by approximately 11% over the costs of our previous outdated facilities. Our new U.K. office is larger and more functional as well, and will provide us with greater warehousing capabilities to address increases in product sales in Europe and the Middle East."

About Corgenix Medical Corporation

Corgenix is a leader in the development and manufacturing of specialized diagnostic kits for immunology disorders, vascular diseases and bone and joint disorders. Corgenix diagnostic products are commercialized for use in clinical laboratories throughout the world. The company currently sells over 50 diagnostic products through a global distribution network and has significant experience advancing products through the FDA process. More information is available at www.corgenix.com.

Statements in this press release that are not strictly historical facts are "forward looking" statements (identified by the words "believe", "estimate", "project", "expect" or similar expressions) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, continued acceptance of the Company's products and services in the marketplace, competitive factors, changes in the regulatory environment, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. The statements in this press release are made as of today, based upon information currently known to management, and the company does not undertake any obligation to publicly update or revise any forward-looking statements.

Source: Business Wire

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