OLEOMED SIGNS CONTRACT
WITH ECKERD DRUGS
Only Encapsulated Olive Oil to be Available in All Florida Eckerd Drug Stores

MIAMI, FL - June 1st, 2002 - OleoMed America, the leading nutritional company specializing in pharmaceutical-grade olive oil natural dietary supplements, has reached an agreement with the Eckerd Corporation to sell their product in Florida stores, announced Carlos de Cespedes, Chairman & CEO for OleoMed America, Inc.

This month, OleoMed America, a subsidiary of The Pharmed Group, a Miami-based distributor of health care products, will begin to sell their products at 500 Eckerd drug stores in Florida. The complete product line also is available at all Whole Food supermarkets throughout Florida; South Florida and Puerto Rico-based Walgreen's; Miami-based Navarro's; Sedano's; online at www.oleomedamerica.com; and by telephone at 1-866-OLEOMED.

"We are very pleased to be working with the Eckerd Corporation," said de Cespedes. "OleoMed will now be available to a broader audience at one of America's leading drug store chains providing high quality health care products and an extensive merchandise selection.".

OleoMed is pharmaceutical-grade olive oil blended with vitamins, minerals, and herbals offered as a dietary supplement in the form of soft gel capsules. Pharmaceutical-grade olive oil is a "subset" of Extra Virgin olive oil; the purest form of the solution available in the world. Scientific examinations from the past few years have equated olive oil consumption with lowered risk of breast cancer, colon cancer, cardiovascular disease, and improved blood pressure.

OleoMed is available in 14 different formulas that support a range of specific health needs: OleoMed Pharmaceutical-Grade Olive Oil, Antioxidant Formula, Bone Formula, Blood Pressure Formula, Energy Formula, Femme Formula, Heart Formula, Immune System Formula, Mind Formula, Balance Formula, and Prostate Formula.

OleoMed capitalizes on the centrality of olive oil to the Mediterranean region and the centrality of dietary supplements to the modern wellness lifestyle. OleoMed's pharmaceutical-grade olive oil is manufactured in Madrid, Spain, and has been scientifically tested to ensure that it meets the standards set by the European Pharmacopeia and the Royal Spanish Pharmacopeia.

OleoMed America, a company of the Pharmed Group, was founded in 2000 to market and distribute pharmaceutical-grade olive oil. Pharmed Group, based in Miami, Florida, is an independent distributor of health care products. Founded in 1980, Pharmed Group is one of the fastest-growing Hispanic-owned companies in the United States being recently honored by Ernst & Young as "Entrepreneur Company of the Year" in the medical category in the state of Florida.

Eckerd Corporation, a wholly owned subsidiary of JCPenney Co. Inc., is headquartered in Clearwater, Florida and is one of America's largest retail drug chains with approximately 2,640 drug stores in 20 states including 140 Genovese units, 1,630 Eckerd Express one-hour photo labs in 19 states and three pharmacy mail service facilities in three states. Eckerd Corporation's 2001 revenue was $13.8 billion. Eckerd Corporation employs over 75,000 associates company-wide including over 8,000 pharmacists. (For additional company information visit www.eckerd.com).

For additional information about OleoMed, please call 1-866-OLEOMED (653-6633) or visit www.oleomedamerica.com.