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EMPYREAN DIAGNOSTICS INC. (SUBSIDIARY OF SOCAL CAPITAL CORP.) ENTERS FORMAL LETTER AGREEMENT

 VANCOUVER, British Columbia, May 18 /PRNewswire/ -- Empyrean Diagnostics Inc. President and Chief Executive Officer Daniel Bland today announced from Europe that the company's U.S. subsidiary, Empyrean Diagnostics Inc., has entered into a formal Letter Agreement with a European corporation for a long-term license-agreement for the manufacturing and distribution of the company's proprietary HIV-1 test-kit technology for Western Europe.
 This will be the company's premier sales agreement, and Bland has projected first-year sales of 25 million test-kits on this first agreement with the European corporation.
 Bland told management today that the details of the agreement will be finalized by early next week, but he felt it was important to provide this initial information today because of increased speculation concerning his trip to Europe.
 Socal Capital Corp. (Vancouver: SOL) trades on the Vancouver Stock Exchange.
 -0- 5/18/93
 /CONTACT: Empyrean Diagnostics, 604-687-6223 or 800-567-8181/
 (SOL.)


CO: Empyrean Diagnostics Inc.; Socal Capital Corp. ST: British Columbia IN: SU:

LS-MS -- LA019 -- 9869 05/18/93 14:55 EDT
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Publication:PR Newswire
Date:May 18, 1993
Words:166
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