Committed to healing, protecting and beautifying the skin, Ferndale Laboratories, Inc. (FLI) is a privately held manufacturer and marketer of branded pharmaceuticals. We direct our promotional efforts to the under-served medical specialties of dermatology and colon/rectal surgery. Although founded in 1897, we have maintained an aggressive growth pace over the last six years. Our sales revenue has quadrupled since 1996. Ferndale Laboratories is actively seeking to expand our portfolio of prescription and over-the- counter skin care products. Our mission is to become a worldwide marketing leader of specialty pharmaceuticals. Along with our dedicated work force we will reach our goal via inward/outward licensing, acquisitions, and research and development. At the beginning of 2002 we opened our International Offices near Cambridge in the UK. This European base is helping us to expand our presence around the globe. Ferndale Laboratories currently has partnerships with companies in seven countries. In September of 2003 Ferndale acquired the Dermatology business of Adams healthcare in the UK. This is now called Ferndale Pharmaceuticals Ltd and operates in West Yorkshire. In 2004 Ferndale launched a new strategic division that calls on the institutional (hospital) market. The current focus of the Institutional Sales Division (ISD) is on pre-procedural pain products and surgical wound dressing adhesives. Ferndale is looking to expand it's product portfolio in the institutional market. Ferndale is also proud to be a member of the International Dermatology Alliance (IDA). This network of dermatology companies with representation from France, Germany, Spain and the US allows us to offer potential partners with access to the global market without having to deal with a multinational conglomerate. Please visit the IDA website at www.ida-network.net for more information.