Coronado Industries Expands Exclusive Agreement to Include Distribution into North Africa.

Business Editors

FOUNTAIN HILLS, Ariz.--(BUSINESS WIRE)--Oct. 1, 2003

Coronado Industries Inc. (OTC BB: CDIK), the manufacturer of unique, proprietary pneumatic devices for the treatment of glaucoma, said today that it has completed negotiations with EuPharmed, s.r.l. (Rome) which expands the geographic area of their current agreement to include the exclusive territories of Algeria, Morocco, Libya and Tunisia (the "North Africa Territory").

"Historically, these countries have had strong ties with Italy, including strong relationships between their medical communities. The expansion of the existing marketing and distribution agreement coincides with EuPharmed's aggressive expansion into these markets with their existing portfolio," said Dr. John Sharkey, Coronado Industries director of operations.

Coronado Industries has for the past seven years been dedicated to the development and commercialization of its patented Glaucoma Treatment Device which treats open angle and pigmentary glaucoma. Richard Smith, CEO, said he is confident that the expanded agreement with EuPharmed will now allow them to generate a stronger revenue stream, which will in turn provide the resources and impetus to accelerate Coronado's expansion into additional worldwide markets. "We are delighted with the progress we are making with EuPharmed which, besides providing us access to over 5,000 of the 6,500 ophthalmologists in Italy, will now give us access to the growing markets of North Africa."

Dr. Ignazio Cane, EuPharmed's managing director, commenting on the agreement said that his company, already excited at the prospect of marketing Coronado's glaucoma treatment device in Italy, is now ready to tackle the markets of Algeria, Libya, Morocco and Tunisia where we are confident we can help fulfill the need for effective glaucoma treatment.

Forward-looking statements in this release are made pursuant to the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risks and uncertainties, including without limitation, continued acceptance of the company's products, increased levels of competition for the company, new products and technological changes, the company's dependence on third-party suppliers, and other risks detailed from time to time in the company's periodic reports filed with the Securities and Exchange Commission.