HILLSBOROUGH, Calif., Oct. 14 In light of recentevents impacting the global financial markets, Apex Bioventures AcquisitionCorp. (Amex: PEX), a publicly traded special purpose acquisition company withhealthcare industry expertise, announced today details related to its assetsbeing held in trust. As of October 14, 2008, the assets are held in asegregated account at Morgan Stanley, with Continental Transfer & TrustCompany as trustee. One hundred percent of these assets are invested inMorgan Stanley Institutional Liquidity Treasury Portfolio (the "Fund"). Perthe Fund's prospectus, the Fund invests exclusively in U.S. Treasuryobligations and repurchase agreements collateralized by such securities, withno individual security having a remaining maturity in excess of 397 days.
Apex is a blank check company formed for the purpose of acquiring, througha merger, capital stock exchange, asset acquisition, stock purchase or othersimilar business combination, one or more domestic or foreign operatingbusinesses in the healthcare industry.
Forward Looking Statement Disclosure
This press release contains certain "forward-looking statements" withinthe meaning of the Private Securities Litigation Reform Act of 1995, asamended. Forward-looking statements are based on Apex's estimates, beliefsand projections, and are subject to numerous risks, assumptions anduncertainties, many of which change over time and are beyond Apex's control.Actual results may differ materially from those anticipated in any forward-looking statement and you should not place any undue reliance on such forward-looking statements. More detailed information about Apex and risk factors thatmay affect the realization of forward-looking statements, including forward-looking statements in this press release, is set forth in Apex's filings withthe Securities and Exchange Commission. Apex urges investors and securityholders to read those documents free of charge at the Commission's web site athttp://www.sec.gov . Interested parties may also obtain these documents freeof charge from Apex. Forward-looking statements speak only as to the datethey are made, and except for any obligation under the U.S. federal securitieslaws, Apex undertakes no obligation to publicly update any forward-lookingstatement as a result of new information, future events or otherwise.
SOURCE Apex Bioventures Acquisition Corp.