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EMPYREAN DIAGNOSTICS LTD. ANNOUNCES LICENSE AGREEMENT DETAILS

 VANCOUVER, British Columbia, Aug. 11 /PRNewswire/ -- Company President and Chief Executive Officer, Daniel Bland, announced the details of the second license agreement recently entered into by the company's U.S. subsidiary, Empyrean Diagnostics Inc., (EDI). This second agreement relates to South America, Central America and the Caribbean as the license territories.
 EDI has signed the agreement with Majesco Medical Marketing Inc. ("Majesco"), a privately held corporation with offices in New Jersey and California. Majesco is in the business of marketing medical products on an international level. The principals of Majesco have extensive international marketing experience as well as expertise in the medical field, specifically in AIDS research and believe EDI's product will compliment their current product line.
 Management believes that Majesco's specialized marketing expertise and an extensive product distribution network assures an immediate market penetration for the EDI test kit throughout the license territories.
 EDI and Majesco will incorporate a new company (Newco) for which Majesco will be responsible for all costs including incorporation and required working capital funding. EDI and Majesco will have equal ownership of Newco and equal representation on the board of directors. The directors and officers of Newco appointed by Majesco shall provide management expertise and be responsible for the day to day operation of Newco.
 Under the terms of this agreement, EDI has granted to Newco the exclusive right to manufacture and distribute the EDI test-kit in the license territory for a term of 99-years. Under the license agreement, EDI shall receive revenues from three sources. The first will be a royalty-fee for every kit manufactured by Newco or any sub-licensee of Newco. EDI shall also receive a percentage of the gross-sales made by or for Newco in the license territory and finally, all net profits of Newco shall be shared equally by EDI and Majesco.
 Newco is obligated to secure any regulatory approvals required to manufacture and distribute the test kits in the license territory. It is also required to obtain intellectual property protection in each country of the license territory where the kit is to be manufactured and sold.
 -0- 8/11/93
 /CONTACT: Empyrean Diagnostics, 800-567-8181 or 604-687-6223/
 (EDM.)


CO: Empyrean Diagnostics Ltd.; Empyrean Diagnostics Inc.;
 Majesco Medical Marketing Inc.; Newco ST: British Columbia IN: MTC SU: LIC


BP-xx -- LA030 -- 1795 08/11/93 15:25 EDT
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Publication:PR Newswire
Date:Aug 11, 1993
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