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July 16th, 2008
PRESS RELEASE; For Immediate Release.

NON-TOXIC, BIOLOGICAL ANTI-MOLD & MILDEW PRODUCT DISTRIBUTION AGREEMENT SIGNED BY PEGASUS’ NEW DISTRIBUTOR IN MEXICO.

PALM BEACH GARDENS, FL -- (MARKET WIRE)

Palm Beach Gardens, FL, July 16th, 2008, Market Wire-Pegasus Pharmaceuticals (Symbol:  PGUZ-Pink OTC Market) today announced that it has appointed and signed an agreement with Tenax Corporation of California, to distribute and sell its new, laboratory-proven, biological anti-mold and mildew product in Mexico.

Tenax Corporation, through its wholly-owned subsidiary in Mexico, will market the product under the name “Doctor Mongo™. The Company has recently completed its market research and the various packaging formats and designs for the Doctor Mongo brand product launch. (Please refer to the Company website www.pegasusbiosciences.com  for photos of the product packaging.)  Tenex has an excellent track record of launching and distributing new products in Mexico for over ten years.  And not only has it built up a rapport with the Mexican Government, it has established working relationships and distribution infrastructures with a large range of retailers such as HEB Stores, Home Depot, Costco, SORIANA and many more.  Tenax will focus on all retail, commercial and professional markets for Doctor Mongo ™ product sales in Mexico.

 Recent independent laboratory tests have proven that Doctor Mongo™ represents a breakthrough in mold control technology.  The product demonstrated a remarkable 100% efficiency (0% mold growth) over a 100 day period and far outperformed four other leading U.S. anti-mold products. The product’s active ingredients are non-toxic, biodegradable and are naturally occurring.  Doctor Mongo™ represents a new era in anti-microbial, anti-fungal protection because it not only removes black mold infestation, it also cleans and disinfects surfaces, preventing further mold spore growth in residential, commercial or institutional applications.

For more information, please contact Paul Davey, Investor Services:  778-389-0915 or email:  paul@pegasusbiosciences.com, or contact Daniel P. Kesonen, Chairman & CEO, Pegasus Pharmaceuticals, Inc. at (561) 626-9901.

Pegasus Pharmaceuticals adheres to the statutes and provisions of the Safe Harbor Act.

 


Copyright © 2008, Pegasus Pharmaceuticals Inc.