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To: Ken W who wrote (1681)	4/9/2003 2:16:38 PM
From: Joseph B. Schmidt	Respond to of 23958

News just hit, here it is: Allou Healthcare, Inc. Announces Its Lenders Declared a Default Under ItsLoan Agreement BRENTWOOD, N.Y., Apr 9, 2003 /PRNewswire via COMTEX/ -- ALLOU HEALTHCARE, INC. (Amex: ALU) today announced that its lenders have declared a default based upon unsatisfied obligations from loans payable as of March 31, 2003 and have accelerated all other obligations and declared them payable immediately, after negotiations between itself and its lenders on a forbearance agreement broke down. About Allou. Allou Healthcare, Inc., formerly known as Allou Health & Beauty Care, Inc. and Allou Distributors, Inc. (collectively referred to as Allou), is a publicly traded company that distributes consumer personal care products and prescription pharmaceuticals on a national basis. The Company also manufactures upscale hair and skin care products for sale under private labels. The Company's consumer personal care products distribution business includes prestige brand name designer fragrances, brand name health and beauty aids products and non-perishable packaged food items. Its prescription pharmaceuticals distribution business includes both brand name and generic pharmaceutical products. Certain statements in this announcement are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements, which may refer to the expectations of our management or advisors concerning the outcome of future events, and which may include the words "believe" or "intend" or other descriptions of such expectations, involve certain known and unknown risks, uncertainties and other factors that may cause the statements to be materially different from actual future results. These factors include, among others things, the possibility that we may not be able to identify and successfully pursue strategic alternatives that would provide us with adequate liquidity. SOURCE Allou Healthcare, Inc. CONTACT: David Shamilzadeh, President and Chief Financial Officer of Allou Healthcare, Inc., +1-631-787-1220, fran.fink@hbafrag.com (ALU) prnewswire.com Copyright (C) 2003 PR Newswire. All rights reserved.