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Steven Silva, Executive Vice President and Chief Operating Officer, JerrySilva, President, Chief Executive Officer and Chairman, and Chuck Kelly, ChiefFinancial Officer, will present at the conference.
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A live Webcast of Chem Rx's presentation at 4:00 PM ET will be availableon the investor relations section of Chem Rx's website at:http://www.chemrx.net. A replay of the presentation will be available throughMonday, September 24, 2007.
ABOUT CHEM RX
Founded more than 40 years ago, Chem Rx is a major, privately-owned long-term care pharmacy serving the New York City metropolitan area, as well asparts of New Jersey and Pennsylvania. Chem Rx's client base includes skillednursing facilities and a wide range of other long-term care facilities. ChemRx provides to more than 60,000 residents prescription and non-prescriptiondrugs, intravenous medications, durable medical equipment items and surgicalsupplies. Chem Rx's website address is http://www.chemrx.net.
ABOUT PARAMOUNT ACQUISITION CORP.
Paramount Acquisition Corp. is a special purpose acquisition corporationthat was formed for the specific purpose of effecting a merger, capital stockexchange, asset acquisition, or other similar business combination with anoperating business in the healthcare industry. Paramount raised net proceedsof approximately $53 million through its initial public offering consummatedin October 2005 and exercise of the over-allotment option, and has dedicatedits attention since the offering to seeking and evaluating businesscombination opportunities.
Paramount Acquisition Corp. is an affiliate of Paramount BioSciences, LLC,which focuses primarily on the development of promising in-licensed drugcandidates. Founded in 1991 by Lindsay A. Rosenwald, M.D., ParamountBioSciences is a unique drug development and health care financial companythat, with the assistance of its affiliated life sciences merchant bank, hascreated approximately 50 start-up companies over the past fifteen years, abouthalf of those over the past four years alone. Since its inception, ParamountBioSciences and its affiliated companies have been involved in the clinicaldevelopment of more than seventy drug candidates -- several of which havereached the market -- and have over forty compounds in clinical developmenttoday. Paramount BioSciences has extensive experience in all facets of thedevelopment of emerging life sciences companies and provides its portfoliocompanies a wide range of professional and financial support services.
Cautionary Statements
This press release contains forward-looking statements about Paramount,Chem Rx and their combined business after completion of the proposed businesscombination. Forward-looking statements are statements that are nothistorical facts. Such forward-looking statements are based upon the currentbeliefs and expectations of Paramount's management and are subject to risksand uncertainties that could cause actual results to differ from the forward-looking statements. The following factors, among others, could cause actualresults to differ from those set forth in the forward-looking statements:compliance with government regulations; changes in legislation or regulatoryenvironments; requirements or changes adversely affecting the health careindustry, including changes in Medicare reimbursement policies; fluctuationsin customer demand; management of rapid growth; intensity of competition;timing, approval and market acceptance of new product introductions; general
