Interpharm Holdings Inc (AMEX: IPA) - 500 Beiträge pro Seite

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ATEC Changes Ticker Symbol on AMEX to `IPA`
2 Jun 2003, 08:00am ET
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COMMACK, N.Y., June 2, 2003 (PRIMEZONE) -- ATEC Group, Inc. (AMEX:TEC) expects that the company`s ticker symbol on the AMEX will be changed to "IPA" (AMEX:IPA) at the open of the market this morning.

ATEC previously announced that it consummated the acquisition of Interpharm, Inc., a manufacturer and distributor of generic pharmaceutical products based on Long Island, New York on May 30, 2003. ATEC filed an amendment to its certificate of incorporation to change the name of the company to Interpharm Holdings, Inc on the same date.

ATEC Group, Inc. also previously announced completion of the sale of its computer operations to BAAR Group, Inc. on May 30, 2003. BAAR, which consists of certain members of ATEC management, has assumed substantially all of the liabilities of ATEC.

ATEC`s acquisition of Interpharm, Inc., its name change, the sale of its computer operations, as well as certain other matters that were set forth in the company`s definitive proxy statement, were approved at ATEC`s Annual Shareholder`s Meeting held on May 29, 2003.

ATEC Director, Surinder Rametra stated, "I am very excited about the prospect of working closely with Interpharm`s management, and providing our shareholders with a new vision for the future."

Interpharm, Inc. is a growing manufacturer and distributor of generic pharmaceutical products. The Company has shown a strong commitment to capital investment and growth. Between 2000 and 2002, Interpharm`s revenues grew by approximately 118%, from approximately $11 million to approximately $24 million.

Interpharm, Inc. was awarded the prestigious "Entrepreneurial Spirit" award last year as eighth of the "25 Fastest-Growing" private companies on Long Island. KPMG LLC, Hofstra University and Long Island Business News sponsored the award ceremony, which was held on October 30, 2002.

Dr. Maganlal Sutaria, the Chairman and CEO of Interpharm, Inc. said "Our management team`s dedication to quality control and customer service has been the cornerstone of our historic growth. We are all looking forward to bringing the company`s values into the public arena, and continuing our impressive growth for the benefit of our shareholders."

About Interpharm:

Based in Hauppauge, New York, Interpharm, Inc., is in the business of developing, manufacturing, and distributing generic drugs in the United States. Interpharm currently markets 20 products, representing various dosage strengths for 11 distinct drugs that it manufactures. Interpharm markets its products primarily to wholesalers and drug distributors principally through its internal sales staff as well as independent sales representatives.

Forward-looking Statements

Statements made in this news release, may contain forward looking statements concerning ATEC Group, Inc.`s and Interpharm, Inc.`s business and products. The actual results may differ materially depending on a number of risk factors including, but not limited to, the following: general economic and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, and various other factors beyond their control. Other risks inherent in ATEC Group, Inc.`s business are described in its Securities and Exchange Commission filings, including its most recently filed Forms 10-K and 10-Q, and its Definitive Proxy Statement, filed with the Securities and Exchange Commission on May 2, 2003. Other risks inherent in Interpharm, Inc.`s business are described in ATEC Group, Inc.`s Definitive Proxy Statement, filed with the Securities and Exchange Commission on May 2, 2003. Atec Group, Inc and Interpharm, Inc. u! ndertake no obligation to revise or update any forward-looking statements to reflect events or circumstances after the date of this release.

More information on this company can be found on eWorldWire`s Online Newsroom at:

HTML: http://newsroom.eworldwire.com/view_release.php?id=1437

ONLINE NEWSROOM: http://newsroom.eworldwire.com/newsroom.php?cid=1448

LOGO: http://newsroom.eworldwire.com/newsroom.php?cid=1448

CONTACT: Interpharm Holdings, Inc.
Munish Rametra, General Counsel
[phone]
[e-mail]