ABAX Abaxis, Inc. (delisted)

ABAXIS to Be Added to the Russell 2000 Index UNION CITY, Calif., June 22 /PRNewswire-FirstCall/ -- ABAXIS, Inc. (NASDAQ:ABAX), a medical products company manufacturing point-of-care blood analysis systems, announced today that it will be added to the Russell 2000 Index, and consequently will be included in the Russell 3000 Index, when the broad-market indexes are reconstituted on June 25, 2004, according to the Russell Investment Group. Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. The largest 1,000 companies in the ranking comprise the Russell 1000 Index while the remaining 2,000 companies become the widely used Russell 2000 Index. Investors closely follow these annual updates to the Russell indexes because the indexes are used as a model for more than $365 billion in passive investment funds. About ABAXIS ABAXIS develops, manufactures and markets portable blood analysis systems for use in any patient-care setting to provide clinicians with rapid blood constituent measurements. The system consists of a compact, 6.9 kilogram, portable analyzer and a series of 8-cm diameter single-use plastic disks, called rotors or reagent discs that contain all the reagents necessary to perform a fixed menu of tests. The system can be operated with minimal training and perform multiple tests on whole blood using either venous or fingerstick samples. The system provides test results in less than 14 minutes with the precision and accuracy equivalent to a clinical laboratory. Forward Looking Statements This press release includes statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. ABAXIS claims the protection of the safe-harbor for forward-looking statements contained in the Reform Act. Specific forward-looking statements contained in this press release include, but are not limited to, risks and uncertainties related to the market acceptance of the Company's products and the continuing development of its products, risks associated with manufacturing and distributing its products on a commercial scale, risks associated with entering the human diagnostic market on a larger scale, risks involved in carrying of inventory, risks from unexpected problems or delays in the Company's manufacturing facility, risks associated with the ability to attract and retain competent sales personnel, general market conditions, competition, risks and uncertainties related to its ability to raise capital in order to fund its operations and other risks detailed from time to time in ABAXIS' periodic reports filed with the United States Securities and Exchange Commission. Forward-looking statements speak only as of the date the statement was made. ABAXIS does not undertake and specifically disclaims any obligation to update any forward-looking statements. DATASOURCE: ABAXIS, Inc. CONTACT: Clint Severson, Chief Executive Officer of ABAXIS, Inc., +1-510-675-6500; or, Retail: Joe Dorame, or Institutional/Analysts: Joe Diaz, both of RCG Capital Markets Group, +1-480-675-0400, for ABAXIS, Inc. Web site: http://www.abaxis.com/

Copyright