GenoMed, Inc. Finalizes Acquisition of Genomic Medicine, LLC.

Business Editors/Health & Medical Writers

SARASOTA, Fla. & ST. LOUIS--(BUSINESS WIRE)--Nov. 29, 2001

GenoMed, Inc. ("the Company" or "GenoMed") (Pink Sheets:GMED) today announced that the Company has completed the acquisition of its wholly owned subsidiary, Genomic Medicine, LLC, a St. Louis, Missouri based medical genomics biotechnology company.

Terms of the acquisition include a minimum investment of $2,000,000 up to a maximum investment of $6,000,000 into Genomic Medicine during the initial 12 months, primarily based upon performance of the Company. The Company will immediately issue 12.5 million shares of the Company's restricted common stock to Genomic Medicine's sole shareholder. Additional terms include a multi-tiered "earn-out" stock issuance provision where issuance of any of the "earn-out" shares is contingent upon performance criteria by Genomic Medicine, such as: the attainment of certain profit levels; acquisition of Genomic Medicine by a biotech firm for a minimum of $100,000,000 in cash and/or stock; or listing of the Company on the NASDAQ Small Cap or NASDAQ National Market Systems Exchange.

The Company anticipates that it will file a Form 10SB with the Securities and Exchange Commission by January 2002. The acquisition agreement will be included as an exhibit to the Form 10SB filing.

The Company's new President & Chief Executive Officer, Jerry E. White stated, "We are very pleased for our shareholders to have completed this transaction which we believe will be beneficial to existing and future stockholders of the Company. We believe that we have acquired a company with exceptional scientific skills and intellectual properties that hold great opportunities for our Company's future."

For additional information please visit http://www.genomedics.com and/or contact Craig Hall at [phone] or email at [e-mail].

This press release contains forward looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including those statements pertaining to the beneficial nature of the share exchange. The words or phrases "would be," "will allow," "intends to," "will likely result," "are expected to," "will continue," "is anticipated," "estimate," "project," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Actual results could differ materially from those projected in the forward looking statements as a result of a number of risks and uncertainties. Among other things, competition from existing or new competitors will impact our business; our research and development is subject to economic, regulatory, governmental, and technological factors. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Unless otherwise required by applicable law, we do not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect occurrences, developments, unanticipated events or circumstances after the date of such statement.