To: DanZ who wrote (4124 ) 4/21/2002 4:38:46 PM From: Mike M Respond to of 5582 Name change:siliconinvestor.com GUM TECH INTERNATIONAL INC - Corporate Name Change and Change in State of Incorporation Proposal New York, New York, Apr 15, 2002 (Market News Publishing via COMTEX) -- Shareholders To Vote On Changes At Annual Meeting In June Gum Tech International Inc., announced in conjunction with the Company's filing of its Preliminary Proxy Statement with the Securities and Exchange Commission, that it is asking shareholders to approve a proposal at its Annual Meeting to change the Company's name to Matrixx Initiatives, Inc. and to change the Company's state of incorporation from Utah to Delaware. The Annual Meeting currently is scheduled to be held on June 18, 2002 in Phoenix. "Changing the Company's name is the encompassing step that will represent definitively to our customers and our shareholders the significant operational and directional changes that Gum Tech has undergone in the last year," said Carl J. Johnson, president and chief executive officer of Gum Tech. "Because we no longer manufacture functional chewing gums, we feel it is appropriate to adopt a new name that is better suited to our future endeavors. Matrixx means a 'source or structure from which something else originates, develops or takes form,' which we feel represents well the changes the Company has gone through and the growth initiatives we will continue to pursue. "To achieve success and profitability, we understand that we will be continuously evolving to better serve our customers, vendors, and shareholders," Mr. Johnson continued. "In accordance with the definition of our new name, we expect our future products will be extensions of the intellectual property we currently own; and our goal of expanding distribution will reflect the knowledge and success gained from our current domestic distribution experience." Mr. Johnson also noted that by reincorporating in Delaware, the Company can benefit from a legal structure that management believes is more typical and better suited for a public company. If approved by the shareholders at the Annual Meeting, the name change and change of state of incorporation would become effective immediately after proper filings are made with state authorities, the SEC and the Nasdaq Stock Market. The Company has reserved with Nasdaq the trading symbol MTXX , which will become effective following completion of the name change. The Annual Meeting, scheduled for June 18, 2002 at 10:00 a.m. in Phoenix, Arizona, will be closed to the public. If you are not a shareholder as of April 19, 2002 but would like to attend the meeting, please contact William Hemelt, Chief Financial Officer, at 602-387-5353.