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To: Bucky Katt who wrote (12566)	6/24/2003 1:59:12 PM
From: YAR7888	Respond to of 48461

** Press Release Source: Stellar International Inc. Stellar International & CMI Canada Medical in Two Product Middle East Distribution Agreement Addressing a Population of 75 Million Tuesday June 24, 7:30 am ET LONDON, Ontario--(BUSINESS WIRE)--June 24, 2003--Stellar International Inc. (TSXV: YYS, OTCBB:SLRXF), a Canadian pharmaceutical developer and marketer of high quality, cost-effective products for select health care markets, today reported signing an Agreement with CMI Canada Medical Inc., for the distribution of NeoVisc® and Uracyst®-S in the Middle East. Peter Riehl, Stellar's President and Chief Executive Officer, stated, "There is excellent commercial opportunity for NeoVisc® and Uracyst®-S in these health care markets. This Agreement covers a population of over 75 million people with a demonstrated demand for these products. We feel that CMI Canada Medical Inc. has the distribution network that will allow NeoVisc® and Uracyst®-S to successfully capture a significant market share. This contract also reflects our ongoing strategy to license our proprietary products into the global market place." CMI Canada Medical Inc is presently undertaking the process of acquiring the licenses for exporting NeoVisc to the Gulf area. Stellar International has developed and is marketing three products in Canada based on its core polysaccharide technology: NeoVisc®, for the treatment of osteoarthritis, Uracyst®-S and Uracyst® Test Kit, Stellar's patented technology for the diagnosis and treatment of Interstitial Cystitis (IC), an inflammatory disease of the urinary bladder wall. The Uracyst® treatment for IC is a cost effective product and has demonstrating an excellent symptomatic response. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Readers are cautioned not to place undue reliance on these forward-looking statements. Actual results may differ from those indicated by these forward-looking statements as a result of risks and uncertainties impacting the Company's business including increased competition; the ability of the Company to expand operations, to attract and retain qualified professionals, technological obsolescence; general economic conditions; and other risks detailed time to time in the Company's filings. -------------------------------------------------------------------------------- Contact: Stellar International Inc. Peter Riehl, 800/ 639-0643 5l9/434 -1540 or H.L. Lanzet, Inc. Herbert Lanzet/DeeDee Lanzet, 212/888-4570 -------------------------------------------------------------------------------- Source: Stellar International Inc.