Acquisition of WNCK, Inc.

28 Feb 2006 07:00

Embargoed: 0700hrs, 28 February 2006 Akers Biosciences, Inc. ("Akers" or the "Company") Acquisition of WNCK, Inc. Akers Biosciences, Inc. (LSE.AKR) is pleased to announce that it hassuccessfully completed the acquisition of the assets of WNCK, Inc., ("WNCK") ofThe Woodlands, Texas, USA, for a total consideration of $563,000 to besatisfied as to $410,000 in cash and other considerations and through theissuance of 125,000 shares.WNCK is the leading distributor of disposable alcohol breathalyzers in the U.S.Its Breath Scan product line has been one of the industry standards for thepast 15 years. WNCK's customer base includes law enforcement agencies, retailchains, and the U.S. military. Akers has been the sole manufacturer of WNCK'sproducts for the past 5 years.Akers will benefit from the significantly increased margin and distributionchannels of its alcohol breathalyzer products, resulting from the purchase ofthis distributor. In addition to being profit-enhancing from the day ofacquisition, this transaction will establish the Company as the premier forcein portable alcohol breathalyzers in the U.S. and attractive cost savings arelikely to arise from the swift, full integration of WNCK's operation intoAkers.The acquisition will give The Company access to a broader client base. This isespecially important in view of the rapidly expanding market resulting from newCoast Guard regulations and military programs. With the acquisition of WNCK,The Company is well positioned to profit from this growing market.Akers expects the acquisition costs to be recouped within 18 months throughincreased margins and greater unit sales.Dr. Ray Akers, CEO of Akers Biosciences, Inc. said,"We are very pleased to add the highly established Breath Scan product line ofWNCK to our Breath Alcohol Check line of alcohol breathalyzers. Together, Akersand WNCK will command a strong presence in the market place. We have been verysuccessful at organically growing our own business, and welcome the opportunityto enhance this complementary product line.We are confident that the Breath Scan products will make a positive financialcontribution to our Company in the current year."Enquiries:Dr. Raymond Akers Chief Executive Officer, 020 7917 9476 Akers Biosciences, Inc. Paul Freedman Chief Financial Officer, 001 856 848 8698 Akers Biosciences, Inc. Ben Simons Hansard Communications 020 7245 1100 Akers Biosciences, Inc. develops, manufactures, and supplies rapid, point ofcare screening and testing products designed to bring healthcare informationboth rapidly and directly to the patient or healthcare provider. The Companyhas advanced the science of diagnostics while responding to major shifts inhealthcare through the development of several proprietary platformtechnologies. The company's state-of-the-art rapid diagnostic assays can beperformed virtually anywhere in minutes when time is of the essence. Akers hasaligned with major healthcare companies and high volume medical products distributors to maximize product offerings, and to be a major worldwidecompetitor in diagnostics. Additional information on the Company and itsproducts can be found at www.akersbiosciences.com.ENDAKERS BIOSCIENCES INC