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ALCO INTERNATIONAL GROUP INC. ISSUES STATEMENT

 SAN DIEGO, May 5 /PRNewswire/ -- Melvin Lloyd Richards, a founder of Alco International Group Inc.'s (NASDAQ: ALIG) (the "company") Medical Division, has issued the following announcement and has asked that the company publicly release the same.
 "I have come to the conclusion that as a result of recent negative publicity aimed at me, my involvement in Alco is no longer in the best interest of the company. Although I believe I have made essential contributions during the early stages of the Medical Products Division and in the financing of the company, the destructive campaign of personal attacks against me threatens the well-being and future development of Alco. Therefore, effective immediately, I have decided to terminate my involvement in the company as an employee and member of management. I will not be involved in company decision-making in the future either as an officer, director or consultant. Any and all shares of the company's common stock for which I am the owner of record or hold beneficial interest in will be placed in the voting trust of Tony Maraschiello, and will be subject to the trust, according to Amendment No. 2 to a schedule 13D dated Feb. 25, 1993 (the "13D"). I will hold no shares outside of this trust. Although my resignation is personally difficult for me, I believe it to be necessary for Alco. I wish Alco a bright future."
 In accepting Richards' resignation, Alco President Dr. Dietmar Rabussay commented, "It is with great regret that we accept Mr. Richards' decision to resign from all association with Alco. It is particularly distressing, because it has been prompted by an ongoing media attack that ignores the company's advancements in spotlights the past of some of the company's contributors. We are grateful to Mr. Richards for his efforts on the company's behalf and will continue to endeavor to realize the full potential of our business plan."
 Alco International Group Inc., through is subsidiaries, operates two primary businesses: the manufacture and marketing of medical products for infection control and women's health, fertility and conception products; and the transportation of containerized cargo from South Florida to the Caribbean.
 -0- 5/5/93
 /CONTACT: William Spencer of Alco International Group, 619-695-9555/
 (ALIG)


CO: Alco International Group Inc. ST: California IN: HEA MAR SU: PER

LS-BP -- SD001 -- 4725 05/05/93 09:03 EDT
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Publication:PR Newswire
Date:May 5, 1993
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