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CRYOTECH SUBSIDIARY ANTICIPATES SUBSTANTIAL REVENUE GAIN FROM UNIQUE LOWER COST MEDICAL MALPRACTICE INSURANCE AGREEMENTS

 PORTLAND, Ore., March 11 /PRNewswire/ -- CryoTech Industries Inc. (OTC: CRYOA) announced today that its 80 percent owned subsidiary, Parker Marketing Inc. has executed contracts and letters of intent with several major providers of insurance coverage wherein Parker Marketing will provide a unique form of coverage designed to reduce the high cost of malpractice insurance. The plan consists of a lower cost doctor's professional liability insurance and permanent life insurance. The program will be initially offered exclusively to more than 60,000 physicians throughout the country, all currently affiliated with existing networks providing insurance to the medical community.
 Daniel J. Meyers, president and chief executive officer of CryoTech and Parker Marketing stated, "The problem of rising insurance costs is a material factor in the health care industry. Our program combines liability coverage with group life insurance in a unique format assuring the physician of both immediately reduced liability premiums together with a return of capital that would provide, without increasing existing premiums, significant life insurance and retirement benefits."
 Based on current estimates resulting from these agreements, the program could generate in excess of $10 million in net revenues to Parker Marketing per annum. Service contracts for all life insurance sales will be provided by Parker Marketing, the agent of record.
 "We have spent years developing these programs to ease the physicians' cost burdens and feel we will now become a leader in the industry. We are aggressively forming an agency network throughout the country to market this and other innovative products to over 250,000 physicians," Meyers added.
 CryoTech acquired Parker Marketing in November 1992. The stock is traded over the counter and has approximately 35 million shares outstanding, held by more than 10,000 stockholders. The company is a nationwide distributors of financed life insurance programs for professionals and businesses.
 -0- 3/11/93
 /CONTACT: Daniel J. Meyers, president and CEO of CryoTech Industries and Parker Marketing, 503-224-1010; or Donald Reynolds Associates, 310-275-9024, for CryoTech Industries/
 (CRYOA)


CO: CryoTech Industries Inc.; Parker Marketing Inc. ST: Oregon IN: INS SU:

EH-KJ -- LA011 -- 5172 03/11/93 14:34 EST
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Publication:PR Newswire
Date:Mar 11, 1993
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