GenuOne to Participate in U.S. Food and Drug Administration Meeting

GenuOne Inc., a leading provider of product authentication and tracking solutions, will be presenting their comments concerning consumer safety to the U.S. Food and Drug Administration at the FDA's public meeting on July 26, 2002. The public meeting, entitled "Bar Code Label Requirements for Human Drug Products," a one-day event held at the National Institute of Health in Bethesda Maryland, supports an initiative by the Secretary of Health and Human Services to develop regulations requiring bar code labeling for human drug products to reduce medication errors. The meeting will also cover a proposal to implement bar codes on medical devices.

Stephen Polinsky, Co-founder and Vice President of GenuOne, will give a presentation focusing on consumer safety through product tracking and authentication at 3:15 p.m. The FDA organized the meeting in an effort to formulate regulations to reduce the number of adverse drug events, including deaths, which occur every year due to medication errors, and has scheduled 35 organizations to make presentations. Other presenters include the Center for Disease Control, American Health Packaging, and Barcode Technology.

"The availability of bar codes for pharmaceuticals would facilitate patient safety initiatives and the reduction of preventable errors,� said Polinsky. "If a health professional could utilize a bar code on a drug containing unique markings that identify the manufacturer, product, package size and lot number, the medical field could substantially reduce the product diversion and counterfeiting that gives rise to an estimated 770,000 adverse drug events yearly in U.S. hospitals."

About GenuOne
GenuOne provides technology solutions to minimize the financial impact of the counterfeiting or gray market diversion of a company's brand and products. Through a portfolio of leading technologies across the physical world and the Internet, GenuOne is able to develop and implement solutions that mitigate risk at any point that may be exposed along the value chain, from materials supply and production to distribution channels and the Internet. GenuOne's technologies empower clients to minimize price, channel and brand erosion, customer dissatisfaction, and loss in shareholder value. Visit the GenuOne website at www.genuone.com.