Quick-Med Technologies, Inc. Reports Success of NIMBUS in Preventing Mold, Second Joint Development Agreement in Building Materials Industry

Gainesville, FL (PRWEB) June 26, 2003 -- Quick-Med Technologies, Inc. (OTC Bulletin Board: QMDT) reported today that independent tests have shown its NIMBUS technology to be highly effective in preventing mold in building materials. Based on the success of the technology, the Company has entered its second Joint Development Agreement within the building materials industry, this newest agreement with a leading supplier of wallboard. The agreement calls for a six-month period of additional research and development, followed by a commercial agreement to be negotiated based on the success of the technology in product applications.

The test results reported today were performed by Biological Labs Services, an independent testing service based in Minneapolis, MN, in accordance with industry- standard test, ASTM D3273. Previous independent tests have shown NIMBUS to be effective in protecting wood from rot and termite damage. The Company has a similar joint development agreement with a major supplier of preserved wood and is actively developing NIMBUS in other building material products such as insulation.

The building materials industry is seeking safe and cost effective ways of retarding the growth of mold or rot. We believe that NIMBUS will be highly effective in protecting a range of building products for both interior and exterior applications" stated Michael R. Granito, Chairman of Quick-Med Technologies.

QMTs NIMBUS technology is based on impregnating wood or other substrates with a highly effective and safe microbicide but in a way that prevents the active ingredient from leaching out of the wood. Unlike most current technologies on the market, the active ingredient is not a heavy metal which makes them unacceptable for interior and many exterior uses. NIMBUS treated material is not dangerous to humans, but it inhibits rot or mold due to the action of the microbicide. It repels termites because NIMBUS kills the bacteria that termites require in their digestive systems.

These development agreements illustrate QMTs strategy of developing advanced technology to the right point, then partnering with premier companies to commercialize in the end-market" stated David S. Lerner, President of Quick-Med Technologies.

MOLD AND WATER DAMAGE CLAIMS
Mold-related expenses cost companies that underwrite homeowners' insurance $1.3 billion in 2001. Some insurers have even started excluding mold from their property-damage policies as well.

In Texas and other states in the south and west of the United States, heat and humidity combine to make fertile breeding grounds for mold. Explanations for the increase include more energy-conserving building construction that prevents moisture from escaping, changes in building materials, poor quality construction and inadequate maintenance, among other things. A study conducted for the Texas Department of Insurance showed that the cost of claims for mold in that state grew from $14.4 million in the first quarter of 2000 to $187.5 million in the fourth quarter of 2001, driving up homeowners premiums. The frequency of claims also increased, with the number of mold claims rising from 1.7 per 1,000 policyholders in the first quarter of 2000 to 23.6 per 1,000 policyholders in the fourth quarter of 2001.

The loss classification water damage and freezing" includes damage caused by mold. Mold growth occurs only in the presence of moisture.

Source: Insurance Information Institute

ABOUT NIMBUS
Novel Intrinsically MicroBicidal Utility Substrate (NIMBUS) is a family of advanced non-toxic polymers engineered to have anti-microbial, super absorbent, hemostatic and other properties that can be used in a wide range of applications from advanced wound care to wood preservatives. Currently, Quick-Med Technology is developing the NIMBUS technology for use in the medical, military, consumer and industrial areas.

ABOUT QUICK-MED TECHNOLOGIES, INC.
Quick-Med Technologies is a life sciences company focused in developing proprietary, broad-based technologies for consumer, industrial, and healthcare use, as well as for advanced military and civilian medical uses. The Companys two core products under development are (1) Ilomastat, an advanced compound shown to be effective in broad-based skin therapy applications in the cosmetic, military, and medical markets, and (2) NIMBUS, a family of advanced polymers that can be used in a wide range of applications from advanced wound care to wood preservatives. QMT is listed under the symbol QMDT" on the OTC Bulletin Board. For additional information, visit QMTs website: www.quickmedtech.com or email: info@quickmedtech.com

For further information, please contact Quick-Med Technologies, Inc.:

David S. Lerner -- President
Tel: 561.750.4202
Email: dlerner@quickmedtech.com

Michael J. Pitsokos -- Corporate & Investor Relations (U.S.A)
Tel: 813.240.2397
Email: mpitsokos@quickmedtech.com

Natasha A. Sorobey -- Corporate & Investor Relations (Canada)
Tel: 403.203.4748
Email: nsorobey@quickmedtech.com

Forward-looking statements (statements which are not historical facts) in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For this purpose, any statements contained in this release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as may", will", to", expect", plan", believe", anticipate", intend", could", would", estimate", and/or continue" or the negative or other variations thereof or comparable terminology is intended to identify forward-looking statements involve risks and uncertainties, including launch and approval of the potential products described herein and the Companys results of operations. The Company is also subject to other risks as detailed from time-to-time in the Companys SEC filings.