Asgard Alliance Subsidiary Acquires Life Line Home Services.

TAMPA, Fla.--(BW HealthWire)--July 28, 1999--

Expanding home health care services in Florida, Healthcare Development Corp., a wholly owned subsidiary of Asgard Alliance Corp. (OTC BB:HGRW) has acquired Life Line Home Services, Inc.

Last month alone, Healthcare Development Corp. had revenues of $675,000. The Life Line acquisition will add $1.1 million in projected revenues during the next 12 months, increasing the company's expected annual revenues to $9.3 million.

"As we announced in June, management has made the commitment to aggressively expand the company, building on Asgard Alliance's division of advanced hydroponics farming with the addition of the healthcare division," stated Lars Thurman, president of the parent company. "We believe this acquisition will add the critical mass necessary to further increase shareholder value."

Earlier this month company officials announced the board-approved name change from Hydro Grow Inc. to Asgard Alliance Corp. - a name that more accurately reflects the company's growth-by-acquisition strategy.

Thurman noted that the combination of Life Line's service and the company's established sales and marketing teams allow for swift revenue growth. The Life Line acquisition itself positions the company for rapid expansion in the Florida market, he added.

Founded in 1993 and headquartered in Tampa, Life Line provides home health care services to patients in several west central Florida counties. The Life Line obtainment follows the company's acquisition of Respiratory Care Resources in May. Headquartered in Cincinnati, Ohio, Respiratory Care Resources is a major provider of oxygen equipment that services the Midwest and the Southeast.

"Our goal is to expand Healthcare Development Corp. by adding products and services to capture more of the health care dollars spent per patient," explained William Tapella, chief financial officer of the parent company. "These acquisitions show the company's commitment to becoming a one-stop approach to home health care needs."

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: To the extent that this news release makes statements about the future, such statements are forward looking and subject to a number of risks and uncertainties, including, but not limited to, the impact of competitive services, demand for such services and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, reimbursement policies of government and private payors and other risks. These risks could cause the Company's actual results from the current fiscal year and beyond to differ materially from those expressed in any forward looking statements made by, or on behalf of, the Company.