CYBeR-CARE and Shanghai Medical Sign Joint Venture Pact to

 Market Electronic Housecall Systems in Asia; Shanghai
Industrial Invests $24.5 Million in CYBeR-CARE 
Business Editors/Health & Medical Writers 
BOYNTON BEACH, Fla.--(BUSINESS WIRE)--Feb. 18, 2000--CYBeR-CARE
(Nasdaq:CYBR) and a publicly traded subsidiary of Shanghai Industrial
Holdings Limited (Hong Kong Main Board: 363) have signed a binding
agreement to form a joint venture to market and sell CYBeR-CARE's
Electronic Housecall System (EHC), a patented Internet-based
technology that enables health care providers to remotely monitor the
health of individuals, in major parts of Asia, excluding Japan and
Taiwan. 
SIIC Medical Science and Technology Limited, (Hong Kong Growth
Enterprise Market: 8018), a publicly owned subsidiary of Shanghai
Industrial, will arrange to manufacture the systems for the joint
venture, and the joint venture will purchase approximately 60,000
units of the company's Electronic Housecall Systems over the next four
years for distribution throughout the Asian territory. A minimum of
30,000 units are planned for sale in the greater China region with the
exception of Taiwan. 
It is estimated that the joint venture will produce revenue of
$500 million during this four year period with $300 million going to
the joint venture from equipment sales and over $200 million to
CYBeR-CARE from network and licensing fees. 
CYBeR-CARE said that in an unrelated transaction, Shanghai
Industrial will buy 1.5 million new shares of CYBeR-CARE at $16.30 per
share, totaling $24.5 million. The price is based on the past 30-day
average price of CYBeR-CARE stock. CYBeR-CARE, in turn, will purchase
7.7 million new shares of Shanghai Industrial based on its stock
30-day average price. All shares will be locked up for a minimum of
6 months. 
Under the agreement, CYBeR-CARE will license SIIC Medical to
manufacture the EHC systems for delivery to joint venture customers in
Asia, as well as manufacture the system, if needed, for CYBeR-CARE
sales in other markets. CYBeR-CARE will receive a royalty payment for
each system sold and will receive all the revenue from the recurring
network fees associated with the EHC system. CYBeR-CARE will be
responsible for establishing the network facilities within Asia to
support remote patient monitoring. 
Michael Morrell, CEO of CYBeR-CARE said, "I am pleased that we
were able to quickly move from our previously announced letter of
intent to this binding agreement to market, sell and manufacture our
Electronic Housecall System in Asia. The agreement shows the
commitment of the two companies to work together to enhance health
care delivery systems worldwide with our revolutionary new Internet
services." 
Mr. Cai Lai Xing, the Chairman of Shanghai Industrial said,
"CYBeR-CARE's dedication to providing diversified medical
technologies, including Internet-based technology, for the delivery of
integrated medical delivery services matches the rising demand in the
medical services market. We are bullish on the future prospect of
CYBeR-CARE, Inc." 
Mr. Zhuo Fu Min, the Chairman of SIIC Medical said, "The Company
is delighted to work with CYBeR-CARE. The cooperation is recognized as
an important step for the company towards applications of advanced
medical sciences. With people becoming more health-concerned and
demanding more medical information, distribution and interactive
diagnostics and monitoring through the web will become a new trend for
modern family health services online, and SIIC Medical is confident
about the prospects of this business." 
According to John Haines, a Senior Vice President of CYBeR-CARE,
and CEO of the technology division, "We will complete the Definitive
Agreement by the end of March and will move quickly to establish the
support and network infrastructure for the territory. SIIC Medical
will bring a wealth of local market expertise and resources to the
joint venture." 
CYBeR-CARE is a technology-assisted disease management company
with four business units. The company offers the Electronic Housecall
System and operates physical, occupational and speech therapy centers,
an e-pharmacy and one of the world's largest air ambulance transport
services. 
Shanghai Industrial Holdings Limited, a conglomerate with
interests in numerous companies, is a component of the Hang Seng Index
on the Main Board of the Hong Kong Exchange and owns a majority
interest in SIIC Medical, which primarily focuses on the modernization
and the scientific application of Chinese medicine worldwide. 
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: The statements which are not historical facts
contained in this press release are forward-looking statements that
involve certain risks and uncertainties including but not limited to
risks associated with the uncertainty of future financial results,
additional financing requirements, development of new products,
government approval processes, the impact of competitive products or
pricing, technological changes, the effect of economic conditions and
other uncertainties detailed in the Company's filings with the
Securities and Exchange Commission.
 
 
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