Neurotech largest US telemedicine company through partnership with Exus and merger with Stellar Holdings' affiliate

Houston 23 July 2002Neurotech Development Corporation, an international health care facilities developer, has entered into an agreement to merge with an affiliate of Stellar Holdings. The resulting merger will create the infrastructure for the largest telemedicine company in the United States. Neurotech has also formed a strategic partnership agreement with Exus Networks Inc., a global provider of end-to-end telecommunications services, to cross market each other's products and services and to co-operate to develop new business opportunities in the emerging markets.


The post merger company is projected to have estimated combined assets in excess of $255 million. The combined companies are expected to have revenues in excess of $80 million in 2003. Currently, year to date Neurotech's order backlog is approximately $3.8 billion. Neurotech is currently constructing a $52.000.000 nursing home and geriatric hospital in China, and has had revenues of $5.500.000 on the first phase.

The recent strategic alliance with Exus Networks opens the door to Eastern Europe and Central Asia. The primary basis of the strategic relationship is to offer telemedicine services in Eastern Europe and to develop additional medical services for the users. The merged company will have all the necessary infrastructure and protocols for worldwide distribution of these services. Neurotech's and Exus' management agreed to enter the partnership because of clear synergies felt between the two companies.

Ike Sutton, Chief Executive Officer of Exus, explained: "Exus maintains offices in Central Asia and Eastern Europe and Neurotech is working on major contracts in countries such as China, Indonesia, and Venezuela. By teaming up, we both drastically increase our access to new markets. Now that the United States is promising over $1 billion in aid to develop the telecommunications and medical infrastructures of Uzbekistan, Afghanistan, and other countries where we have affiliations, along with stipulations that these grants be used for United States products, this partnership could not have come at a more opportune time. There is a tremendous need for hospitals in these areas."

Lawrence Artz, Vice President of Neurotech, elaborated: "Beyond access to new markets, this relationship will enhance the products we each offer. On our side, we can assure our clients that our medical facilities will have the most advanced telecommunications infrastructure available. The hospitals we build have a special requirement for broadband connectivity to gain access to databases, video conferences, and telemedicine resources. From Exus' perspective, I know they are interested in using the technology, customer base, and other assets, which we developed to complement the continuing medical education services they are bringing to Poland and other countries."

The merger between Neurotech and the Stellar Holdings affiliate will meet criteria for listing on the AMEX, and intends to file immediate application upon completion of the merger. Neurotech, which holds a license and is a qualified vendor with the Department of Defence, intends to bid for telemedicine contracts, which can now be serviced through the secured network of the merged company. This new network will provide a comprehensive host to Doctors4Doctors, a subsidiary of Neurotech, creating an entire Virtual Private Network (VPN) to make all services by Neurotech HIPAA compliant under new Federal Guidelines.

Neurotech Development Corporation is an international, single-source designer, developer and administrator of pre-engineered, rapid deployment hospitals, medical clinics, health care facilities schools, and nursing homes. Neurotech provides requisite primary health care products and services to its client countries, inclusive of HMO operation, and insurance management. The development and operation of these facilities are supported by the company's "Neurotech HealthCare System". Internet and proprietary Intranet architecture provide global medical and health care connectivity.

USA standards of medical technology, diagnostics, physician and health care personnel training, computers, telephony, and resource management software systems provide turn-key health care facilities that meet and exceed Neurotech's client countries' national health care requirements.

Client countries' health care personnel are trained at USA based medical teaching universities in diagnostics, health care management, and facilities operation and administration. When training is complete, client countries' heath care personnel are qualified to manage and operate Neurotech's "turn-key" medical facilities. Post training Neurotech provides fee based, continuing medical education, facilities management services, telemedicine, purchasing, and related medical services.

Stellar Holdings is a Texas based investment firm with over 75 years of experience in communications, network management, finance, development dispositions and leasing. Stellar currently holds equity interest in communications, data operating companies, and network manufacturing Co. in Canada and the United States.

Exus Networks, based in New York, provides satellite-based communications products and services to the emerging markets of the world. Exus' global shared satellite network provides high-speed Internet access and telephone services at substantial cost savings to developing countries. Exus has also positioned itself as a speciality provider of communications services to the medical industry by reaching agreements with the Polish government and the National University of Uzbekistan to deliver satellite-based connectivity and continuing medical education resources.

Leslie Versweyveld

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