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Health Outcomes Management, Inc. Announces Results of Special Meeting Held on July 26, 2005

Posted on: Friday, 29 July 2005, 15:00 CDT

JERSEY CITY, N.J., July 29 /PRNewswire-FirstCall/ -- Health Outcomes Management, Inc. (BULLETIN BOARD: HOMIE.OB) . On July 26, 2005, we held a special meeting of our stockholders, whereby our stockholders were asked to vote on the following proposals:

1) To approve and adopt the Agreement and Plan of Merger and all transactions and developments contemplated by such agreement whereby Health Outcomes Management, Inc. will change the state of its incorporation from Minnesota to Delaware by merging with and into a newly formed Delaware corporation named Hudson Holding Corporation. 2) To vote to change the name of the Company from Health Outcomes Management, Inc. to Hudson Holding Corporation upon completion of the merger. 3) To vote to effect between a one-for-five (1-5) and a one-for-eight (1-8) reverse stock split in the discretion of the Board of Directors whereby stockholders will be entitled to receive between one share of common stock of Hudson Holding Corporation for every five shares of common stock of Health Outcomes Management, Inc. held by them and one share of common stock of Hudson Holding Corporation for every eight shares of common stock of Health Outcomes Management, Inc. held by them. 4) To vote to adopt the 2005 Stock Option Plan of Hudson Holding Corporation under which two million (2,000,000) shares of common stock of Hudson Holding Corporation will be available for grant. 5) To vote to increase the number of directors comprising the Board of Directors from four to seven.

Each of the proposals set forth above were approved by a majority of the number of shares of our common stock outstanding and entitled to vote thereon.

We intend to complete the merger with and into Hudson Holding Corporation, and in connection therewith each of the proposals approved at our special meeting, promptly after the filing of our amended Form 8-K/A, which will be amended to include the audited financial statements of our wholly-owned subsidiary Hudson Securities, Inc. for the fiscal year ended March 31, 2004.

About Health Outcomes Management, Inc.:

Health Outcomes Management, Inc. owns 100% of the issued and outstanding capital stock of Hudson Securities, Inc. ("Hudson"), which represents all of its operations. Hudson is a registered broker-dealer with the National Association of Securities Dealers, Inc. and SIPC. Hudson is a leading OTC market maker, making markets in approximately 5,000 securities. Hudson currently has 76 employees, 63 of which are position and sales traders.

Note on Forward-Looking Statements:

Statements contained in this press release, which are not historical facts, are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based largely on current expectations and are subject to a number of known and unknown risks, uncertainties and other factors beyond our control that could cause actual events and results to differ materially from these statements. These statements are not guarantees of future performance, and readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Health Outcomes undertakes no obligation to update publicly any forward-looking statements.

Health Outcomes Management, Inc.

CONTACT: William Ryder, 1-201-216-0100

Web site: http://www.hudsonsecurities.com/

Source: PRNewswire-FirstCall

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