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Technology Stocks : HHHH - 4Health, Inc. -- Ignore unavailable to you. Want to Upgrade?

To: BALBC who wrote (78)	4/21/1999 12:57:00 PM
From: Vegas	Respond to of 79

Company Press Release Wednesday April 21, 6:32 am Eastern Time Irwin Naturals/4Health, Inc. Announces Promotion of Louis Mancini to CEO in Conjunction With Proposed HealthZone.com Spin-off LOS ANGELES--(BUSINESS WIRE)--April 21, 1999--Irwin Naturals/4Health, Inc. (Nasdaq/NM:HHHH - news) announced today that effective the close of business yesterday, Louis Mancini, former president of GNC and since 1998 the Company's current president and COO, replaced Klee Irwin as CEO of Irwin Naturals/4Health. Irwin resigned to become CEO of the Company's wholly owned e-commerce subsidiary, HealthZone.com. The Company also announced its intention, subject to compliance with applicable legal requirements and assuming no adverse tax consequences, to spin-off 100% of HealthZone.com to Company shareholders as soon as practicable. The Company currently anticipates that it will take at least two to four months before HealthZone.com is spun-off to Irwin Naturals/4Health shareholders. Mancini said: ''We believe that this change in management, coupled with the proposed spin-off of HealthZone.com, will prove beneficial to shareholders by focusing individual management attention and responsibilities where they will yield the best results and at the same time solving concerns about the Company's e-commerce initiative. ''By separating HealthZone.com from our profitable core business, we achieve two important objectives. First, we preserve the Company's valuable relationships with thousands of retailers, who may view the Company's e-commerce initiative with concern. And second, we limit the possible adverse effect on the Company's future profits attributable to the possibly significant development costs associated with HealthZone.com's e-commerce business. ''The Company's growth strategy will be to continue to acquire branded products, expand existing product lines, launch new products and penetrate new channels of distribution,'' Mancini concluded. Klee Irwin, CEO of HealthZone.com, said: ''As a pure Internet company, the spin-off should also help establish HealthZone.com's separate identity with prospective investors as a potential growth company in health-related e-commerce. Further, it will help HealthZone.com improve its ability to raise additional capital, including a possible initial public offering to fund future growth.'' Irwin Naturals/4Health, Inc. is a leading formulator and supplier of natural health, herbal and nutritional supplement products for consumers. Its product lines include popular brand name market leaders such as Irwin Naturals, Nature's Secret(r), System-Six, Harmony Formulas(r), Dr. Linus Pauling Vitamins, Inholtra(r), 4Health(tm), 151 Bar(tm) and HealthZone.com, an on-line health and drug store featuring 16,000 products. The Company's products are sold through mass retail and specialty natural health, nutrition and food retail stores worldwide